The three cruel Dutch banks
A recent study by Profundo and World Animal Protection shows that three big Dutch banks (Rabobank, ING and ABN-AMRO) are invested in companies which exploit animals in a cruel way. These banks have invested a total of EUR 8.8 billion (10.7 billion U.S. dollars) in companies that prefer profit over animal welfare.
"In the period 2012-2017, Dutch banks have invested EUR 8,8 billion in the world’s biggest companies in the chicken and pork industry. To varying degrees, these companies cause or are directly linked to animal welfare infringements on a massive scale. These infringements are caused by overcrowding (high stocking densities), barren environments, mutilations, selective breeding, the use of cages, restrictive feeding, rough handling and inadequate slaughter methods. The animals experience pain, stress and boredom. They are not able to express their natural behaviour - or are severely restricted in doing so. They are prone to suffer from leg problems, respiratory problems, infectious diseases en injuries. Moreover, several of these companies have hit the news in recent years due to investigations revealing gross animal cruelty, including Tyson Foods. " -- Profundo & World Animal Protection --
Are we to blame?
These banks and practises are being supported by the (Dutch) people and by (Dutch) companies as long as the (unwritten) terms and conditions from banks are being blindly accepted. When we use services from these banks we also contribute to their moneyflow and the profits they make with our money. Everyone knows this. So here's my question, can we blame these banks for their actions?
We all know that banks are profit making factories, backed by government and the taxpayer's money because they are just too big to fail. So as long as we support a bank by using their services and tranferring our money to them, we are also supporting their vision, mission and investment practises. In my humble opinion, those in society with an Rabobank, ING and ABN-AMRO account are the ones to blame... As long as there is support for such a bank - in the form of having a payed bank account with funds on it and/or periodic monetary transactions - they will keep on doing business as usual.
When we all would move to banks with a cruelty free investment portfolio, or even better no investment portfolio at all, the old and traditional banks would have to change their practices to keep up with the trend or they would lose their reason to exist.
A simple switch will do no (more) harm!
In november 2015 a new way of banking was introduced by a fintech startup with a banking licence. bunq challenged traditional banks with their vision, ease of use and innovative way of mobile-only banking. They started with QR-payments, payment requests, split accounts, multiple IBAN's, wildcards, dual pin codes, 24-7 support and they released their API for the public. A lot of these features were immediately copied by traditional banks.
Another thing that stood out from the rest was their no investment policy. Yes, that's right... bunq does NOT INVEST the funds held on their accounts! The only investment they do is in government bonds, which is a demand of DNB (De Nederlandsche Bank / The Dutch Bank) to accuire a banking license in Holland.
Since the arrival of bunq I've been actively using their amazing easy to use banking app. I have witnessed humane banking services and received amazing support. I also love their slogan; the bank of the free, which empowers their vision of what a bank should be. A safeguard of our hard earned Euro's and provider of beautyful, simple, fast, secure, humane and cruelty free transactions while putting full control back in our hands.
After two months of testing the bunq app I was so pleased that I decided to go full bunqer! So I closed all my other active bank accounts (ING and Triodos). After reading headlines about shady bank investments and studies, like the one from Profundo and World Animal Protection, I feel extreme joy about my choice - based on ideals and principles - to switch from banking to bunqing.
Will you step away from cruel companies?
I wonder how many of you select their products, banks or other (service) providers based on principles of good, cruelty free and compassion?
"One important way to demonstrate our power to care,
is to hold or spend our money like we truly care."
Will you take the necessary steps to switch away from cruel banking groups and other organisations? Let me know!
Links
Study by Profundo and World Animal Protection
Eerlijke Bankwijzer (Fair Bank Guide)
bunq