Introduction to the idea of ethical consumerism

Posted on 08/11/04 by bridget

The world is pretty shit. But it doesn’t have to be.

Who really pulls the strings?

Big businesses? Multinational corporations? A neoconservative fundamentalist Christian conspiracy?

Or you and me?

Companies are only as powerful as their profit margins, and those are determined by the people who buy their products. Shopping with a little more thought allows you to vote with your wallet – supporting companies which behave responsibly and boycotting those which don’t. And it’s very straightforward:

- Buy fair trade chocolate, coffee, tea and bananas whenever you can.

- Don’t buy Nestle, Coca Cola, Nike or ESSO. (Visit http://www.ethicalconsumer.org/boycotts/boycotts_list.htm to see why and also to see a list of other companies you might want to think about boycotting. Remember, you don’t have to boycott all of them! Just any company which you think is behaving particularly appallingly. The very first link on the list: ‘Boycott Bush’ makes for interesting reading…).

And let’s not forget shareholding. You might not think that you hold any shares in any companies, but remember – your bank is investing your money on your behalf. Have you any idea where it’s ending up? Do you care? Is your money invested in companies which use child labour or manufacture torture equipment? Again, what to do is straightforward

- Ask your bank – it’s your money, they really ought to tell you!

- If you don’t like what you hear, then change banks. The Co Operative Bank has an extensive ethical policy. There is a branch in Oxford(opposite the Westgate centre). The bank offers a student account.

And finally, the biggest investor round here? St Hugh’s college, and Oxforduniversity itself. Again, it’s our money, and it’s we who profit from how it’s invested. But at the moment, nothing stops this money from being invested in companies which abuse human rights and destroy the environment. And there never will be any kind of socially responsible investment policy in place unless we stand up and ask for one.

The world is pretty shit. But all that it takes for evil to triumph is for good people to stand by and do nothing. And the power of money really can be a force for good. Companies pulling out of South Africahelped to bring an end to apartheid. In 2002/3 consumer campaigns forced Nestle to think again when it tried to sue Ethiopia for 6 billion US dollars.

Simply taking a bit more responsibility for who ends up profiting from your money can make a world of difference.