Bank launches ‘green’ account

Consumers are sceptical of big business promises to address climate change – with 58 per cent of Brits believing such undertakings are given to protect reputations and not the planet, a survey has found.

The belief that supermarkets, multi-nationals and other major companies are indulging in ‘greenwashing’ rather than tackling real issues was highlighted in a survey conducted for Oxbury Bank, the country’s first dedicated agriculture bank for over 100 years.

The results were released as the bank launched its own carbon-mitigation and biodiversity-promoting savings account – which it claimed enables consumers to save securely and direct their savings interest to fund dedicated woodland creation projects on farms across Britain.

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“To begin with, trees will be planted in dedicated new woodland in the Scottish borders, with other farm sites across the UK to follow,” said Tim Coates, official at Oxbury.

“Oxbury Forest Saver will have a uniquely positive impact – protecting customer savings and the planet while also supporting British farming – and with interest rates at all-time lows it offers our customers a cost-effective way of making a meaningful difference as they save.”

The project will be overseen by Forest Carbon, one of the first companies to create carbon funded woodlands and peatland restoration projects.

The body’s co-founder, Stephen Prior said that Forest Saver account was a fantastic way for people to put their money to good works in a transparent and quality assured way, where the environmental impacts would be “real, measured and monitored”.

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