Good Money Week
SCRT by Pauline Hinchion
The financial crisis continues to rumble on seven years after it first hit and our poorest and most vulnerable people endure the impact of the ‘too big to fail’ banking bailouts by governments with an austerity regime that will carry on into the next Westminster parliament. What role did and does our monetary habits contribute to the behaviour of banks and as a result indirectly on the growing inequality within our society? Good Money Week (19th – 25th October) tries to get people to think about what our money is doing to improve society and the environment.
‘Money makes the world go round’ is the saying but we all need to ensure that it goes around in the right way and that our money reflect our values, protects our environment and enhances our society.
On the 23rd October as part of Good Money Week, the Global Alliance for Banking on Values (GABV) is co-ordinating the first international campaign by values based financial institutions across the world. The GABV is a global movement of social banks that exists to use banking to bring about change in society.
What the GABV and similar bodies offer is an alternative vision of banking. One that is rooted in the ‘real’ economy and has positive impacts on real people’s lives. Readers of this bulletin will know that Senscot is actively trying to create a situation whereby all the resources of the Scottish Third Sector can be used to achieve a society worthy of our actions and our aspirations via the creation of the Scottish Community Re-Investment Trust (SCRT). The SCRT aims are to use our own wealth to finance our good work in a way that magnifies our positive impact upon society. In the coming weeks a number of organisations will be getting letters asking for their support for the SCRT, but longer term the SCRT will allow everyone in our sector from volunteers to staff, from trustees to organisations to turn their money ‘good’ and make it count where it matters most on the frontline of our society and our environment.