Double awards success for Ecology Building Society

Judges for the Finance for the Future Awards praised Ecology’s member-led mutual model, work on improving housing stock and wider influence

Ethical finance pioneer Ecology Building Society has been recognised twice in the Finance for the Future awards.

The awards, founded by the Institute for Chartered Accountants of England and Wales (ICAEW) and the Prince’s Accounting for Sustainability Project (A4S), highlight the role of finance in embedding sustainability issues in business decision making.

Ecology won the Building Sustainable Financial products award, which recognises organisations that have developed financial products or services that are aimed at driving sustainable outcomes and is open to any
organisation in the world that provides lending insurance or investment products. Ecology was also recognised for our climate leadership.

The global awards were presented by Channel 4’s Krishnan Guru-Murthy, at an event in the City of London.

Jessica Fries, executive chair at A4S, said: “With finalists from around the world, the Finance for the Future Awards show examples of leadership and innovation from all sections of the finance and accounting community, urgently needed to transition to a sustainable economy.”

The judges said that they were “impressed with the overall goal of Ecology in funding the improvement of the existing UK housing stock” and highlighted its C-Change mortgage discounts which incentivise energy efficiency through mortgage pricing

They also recognised the value of Ecology’s mutual ownership model and the role of its members in driving the society’s principles. And they cited Ecology’s wider influence on legislation and regulation “in a much greater way than their balance sheet size would suggest”.

Ecology chief executive Paul Ellis said: “On behalf of the Ecology team I am proud and honoured that our longstanding commitment to sustainability and ecological lending has been recognised by the Finance for the Future awards’ judges.

“Against the backdrop of the climate crisis, our success shows that the time is now for a financial system that benefits people and planet.”