.
Second, we urge lenders to take a look at what their (our) money supports.
Pharmaceutical companies use and kill millions of animals every year, even though
animals have proven to be poor models for humans. An incredible nine out of 10 drug
formulations that test safe and effective in animals fail in human clinical trials. Is a 90
percent failure rate a good investment? And think of the misery that accompanies this
appalling record.

Lenders should invest in the companies that are developing a host of more effective
non-animal tests. These companies represent admirable ethics and good business
sense. Even in these worrisome times, we can embrace both.

---------------------------------------------



Kathy Guillermo is director of laboratory investigations for People for the Ethical
Treatment of Animals (PETA), 501 Front St., Norfolk, VA 23510;
www.StopAnimalTests.com.






Copyright ©  PETA & AMBIENTE MAGAZINE.   Do not reproduce without citing these sources.
.
www.ambiente.us  MARCH | MARZO 2009

Can doing the right thing pay off? Bank on it
By Kathy Guillermo

While banks in the U.S. are standing in line for a handout just to stay in business and
lending institutions around the world are wringing their hands, one British bank is
thriving. Co-operative Bank is enjoying a 40 percent jump in retail deposits and a 65
percent increase in customer accounts, allowing it to offer 15 percent more in loans.
How has Co-op done so well in this difficult time? The answer comes down to this:
ethics.

Co-op has just announced that it will no longer lend to any company that conducts
experiments on great apes. This announcement follows an earlier policy not to lend to
companies that test cosmetics and consumer products on our closest relatives. The
bank also turns down companies that cause environmental damage or that sell arms
to oppressive governments. Indeed, saying “No” is a 17-year tradition for Co-op, which
just last year turned down 1 billion pounds in loan requests.

Turning away business, it turns out, can be an excellent fiscal policy—if that’s what your
customers want. Co-op regularly communicates with the people whose cash fills its
coffers, and more than 80,000 of them responded to its most recent survey. These
people made it clear that they don’t want their money
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used to harm great apes in
laboratories. Co-op listened.
Pharmaceutical and
biomedical research
companies that imprison,
poison, sicken and kill
chimpanzees will not get a
loan from one of Britain’s
healthiest lending institutions.

People for the Ethical
Treatment of Animals hopes
that Co-op’s excellent
example will do two things.
First, we think it’s time for all
banks to pay attention.
Co-op says that at least
one-third of its customers
chose the bank for its ethical
policies. Doing the right
thing can pay, as Co-op’s 14
percent annual growth rate
shows. My own bank, which
was one of the casualties of the mortgage industry fiasco and was recently taken over
by another institution that appears now to be on shaky ground, has never bothered to
ask me—or, to my knowledge, any other customer—what we think about its
investments. Some of us would have plenty to say about where our money should go,
and we’d also be loyal to a company that strives to reflect our ethical values.