Majority of Dutch savers against banks investing in porn, gambling industries
A majority of Dutch savers oppose banks investing their money in sectors such as gambling, pornography, and weapons, with sharp differences between men and women, according to a new survey. At the same time, most savers say they do not know how their money is invested. The findings come from a survey of 1,078 savers conducted by Panelwizard on behalf of Triodos Bank.
63 percent of women consider investments in pornography unacceptable, and 59 percent reject investments in weapons. Among men, those sectors are less controversial; only 38 percent oppose investments in the arms industry, and a narrow minority of 47 percent object to investments in adult entertainment. If banks invest in sectors that conflict with personal values, 45 percent of savers said they would consider switching institutions.
The survey also found that 48 percent of savers overall consider weapons investments unacceptable. This comes as several banks announced last year they would resume investing in the defense sector, citing a shifting geopolitical landscape and increased insecurity in Europe due to wars in Ukraine and Iran.
Daniël Köhler, director of Triodos Bank, told the AD that the findings do not necessarily indicate opposition to defense itself. “Most people are not against a strong European defense capacity. Many people just do not want their savings to be used for that purpose. The core question then is, "Who should take on the financing of defense?”
Köhler argued that defense investments should come from governments rather than commercial banks. “Weapons that governments purchase are financed through taxes and debt. This structure has an important advantage: it creates an incentive to end conflicts quickly and peacefully because the costs of war are directly borne by society and politicians must account for them.”
The survey highlights a broader disconnect between savers and financial institutions. While many respondents have clear opinions about how their money should be used, 86 percent said they have no idea where banks invest their savings. Two-thirds said they have never been actively informed about their savings by their bank.
Other industries also raise concerns. 43 percent of respondents consider fast fashion, defined as cheap, non-sustainable clothing production, unacceptable.
Overall, 67 percent said it is important or very important that their bank invests savings responsibly, for example, by avoiding polluting industries or companies that violate human rights. “The question is not whether your money is invested, but how it contributes to the world you find important?” Köhler said.
