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Sustainable banking is banking on values- experiences from Finland

Sustainable banking is banking on values- experiences from Finland. Short profile. - a Danish cooperative bank with full licence -established 1982, today >21,200 clients, 4 offices, 79 employees and > 283 m euro balance sheet

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Sustainable banking is banking on values- experiences from Finland

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  1. Sustainable banking is banking on values- experiences from Finland

  2. Short profile -a Danish cooperative bank with full licence -established 1982, today >21,200 clients, 4 offices, 79 employees and > 283 m euro balance sheet -a broad sustainability focus with emphasis on environment, social cohesion and culture -transparency as a core value -targeted rate of return for shares is 5-7 %

  3. Merkur in Finland Financing of small ecological, social and cultural initiatives -knowledge of small businesses and projects -financial advice and facilitating financial advice -using also securities based on the community around the initiative: collateral circles -small loans up till 500.000 euros -finnish savers have had a knowledge what the bank does with their savings

  4. Uusi Tuuli ry: financing an EU-project -Estelle, a ship sailing for fairtrade -social, cultural and ecological initiative -being able to pay back, not-for-profit -economical assesment, look at the annual report, future budjets, ability to have own financing which is needed in EU-projects

  5. Forming a collateral circle of 20 friends of Uusi Tuuli -using the EU-agreement partly as collateral -forming a circle of people interested in the initiative, friends of the project -no-one guarantees alone the whole project -one takes a part suitable for oneself -rule of 2 months bruttosalary -the guarantor gets information of the initiative and about the risks in the initiative -risk are discussed with the project and other guarantors -guarantor gets information of the project during the loanperiod

  6. Sailing to the new worlds -met other people interested in social banking -but what to do as Merkur already is a bank and cannot be made again -a seed in Finnish society -formed a pankki2.0 initiative -a companion agreement with Merkur and Osuuskunta Eko-Osuusraha

  7. -supporting small sustainable projects in such a way that financing comes from community of the project • -money as investment, loan or gift in a clear transparent way in small sums • -everyone can make in initiative and join the community • -copyleft, creating information to be used • -assessing impacts and doing follow-up and telling about them, which enforces local economy and sends an invitation to join in the economy of the common good

  8. Tila Kaupungissa- a Farm in Town - financing an organic foodshop • -share issue of 100.000 euros • -both farmers and customers as owners • -the solution for financing from the community around • 120.000 euros =312 new shareholders

  9. Heading to the questions like • -how can we create equal economical relationships? • -how much is enough? • -what is an economy serving people like? • ACTION RESEACH

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