A firm based in Salisbury has spoken out over the Chinese Government’s proposed financing of the Barclays Bank takeover of ABN-Amro. Barchester Green Investment says the decision has dismayed the ethical investment sector, due to China’s abysmal human rights record.

Geoff Griffiths, managing director of ethical investment specialist, Barchester Green Investment said that in recent years, ethical funds have drawn a line under the banks’ involvement in third world debt in the 1970s, whilst they, including Barclays, has embraced programmes of social responsibility and corporate governance.

Many ethical funds who have, in recent years, invested in Barclays will now be watching developments very carefully. The fact that Barclays are even considering this move will bring considerable concern.

“This move, if it goes ahead, will drive a coach and horses through Barclay’s social responsibility programme, of which human rights are a major plank.  The reputational damage to Barclays will be immense.
“It is not just ethical funds, but ethical investors with Barclay’s accounts, may well move them.  We most certainly will.  We will be making our feelings known to the Bank as will others.  It is in situations like these that the difference between rhetoric and reality.”

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