Can you say “business” and “love” in one sentence without sounding weird? More than 1000 members of the GLS Bank agreed: We’ll do it. Because that’s the only way we can achieve sustainable transformation.
Green politician Bärbel Höhn found clear words at the RuhrCongress in Bochum: “In just 70 years we have managed to bring our planet to the limits of its ability to survive!” The former NRW Minister of Agriculture was a panelist at the GLS Bank Annual Meeting 2023. She appealed to the 60+ generation. “We have the knowledge, we have time and some money. We will be needed again! The next six to ten years will be crucial,” said Höhn, referring to the climate crisis.
The financial sector plays a decisive role in the transformation – a key issue for GLS Bank. CEO Aysel Osmanoglu referred to the in her opening speech Earth Commission study from this week. Seven out of eight planetary boundaries have therefore been exceeded. This is the result of an economy that is designed to maximize profits. The basic idea behind the economy is the satisfaction of needs. “The social market economy has satisfied many needs, no question about it. But we are now noticing that the way we do business – that is, the prevailing capitalism – has gone beyond this goal,” said Aysel Osmanoglu. “We should start questioning and expanding the system.”
And with Love instead of profit in business. Many things can be meant: solidarity and fairness in business relationships, equal opportunities, diversity and justice. Maike Sippel, Professor of Sustainable Economics at the University of Konstanz, explained why these qualities are lacking in business. “We have to get away from preaching profit maximization in economics.”
money for basic needs
GLS Bank board member Dirk Kannacher demanded: “We have to be role models together and set an example for sustainability.” This is what the employees of the social-ecological bank try to do every day. With the cooperative shares and deposits, the GLS Bank only promotes basic human needs: organic agriculture, affordable housing, the energy transition, education, care and the sustainable economy. In addition, the GLS Bank is also politically active and advocates better framework conditions for a sustainable economy. Those ideas and confidence were celebrated by the members of the credit union, which owns itself. They show that another (banking) world is possible.
For your calendar: The bank is celebrating its 50th anniversary on June 1 & 2, 2024.
Please use the attached photo with the credits “GLS Bank/Muennich”.
About the GLS Bank
The GLS Bank is the largest and first social-ecological bank in Germany. The following applies to the cooperative bank: money is there for the people. It only finances social-ecological companies and makes its business fully transparent. The deposits of their community flow into loans for renewable energies, nutrition, sustainable economy, housing, mobility, education and culture as well as social and health issues. The focus is always on the people. The credo behind it: Only together can we create a future worth living. The bank offers all the services of a bank: checking accounts, credit card, free cash withdrawals, sustainable funds, provision and much more. GLS Bank is based in Bochum and has offices in Berlin, Hamburg, Freiburg, Munich, Frankfurt and Stuttgart.
T: +49 (0) 234 5797 5340
Original content from: GLS Bank, transmitted by news aktuell