Xiaohongshu
We have ambitions to be the most sustainable students’ union in the UK, and that means putting environmental sustainability at the heart of everything we do. This is hugely important for our members too, who passed a policy on sustainable banking last year. Since the policy was passed, we’ve been looking for a banking partner that aligns with our sustainability ambitions, and we’re pleased to share that we made the move in March.
The first phase of the move involved transferring £2m of students’ union funds to Aldemore and Triodos, two of the world's leading sustainable banks. Moving these funds out of Barclays and to Aldemore and Triodos is estimated to save more than 200 tonnes of carbon (tCO2e) each year.
Students’ Union UCL is an independent charity, separate from UCL, and finding banks that meet our sustainability criteria and were able to take us on as clients required careful due diligence. We worked with Mothertree, who help people, charities, and businesses choose banks that align with their values. Mothertree’s advice was checked by independent financial advisors and then approved by our finance committee in February.
Aldemore and Triodos are two banks that don't just avoid harm but actively support positive change through the projects they fund and the partners they choose. It's a move that supports our commitment to create a leading students’ union with sustainability at its heart and reflects what we stand for.
Useful links
- Students Banking for Sustainability – a campaign group founded by our Sustainability Officers.
- Aldermore Bank – Principles for Responsible Banking
- Triodos Bank – Know where your money goes
- Our Sustainability Hub – get involved with sustainability initiatives at UCL