The ethics of green technology

Friday 27 August, 2021
by 2021 BFO Young Ambassador

You're a new relationship manager at a business bank. You  applied for the role on the basis of the organisation’s clear ESG focus and strong commitment to supporting growing businesses in the renewables and electric vehicle space. One of your new clients - a growing electric vehicle manufacturer - is seeking a loan to expand its operations so that electric vehicles may be more widely available in Australia.

However, upon seeing the details of the expansion plan, you realise that the client intends to source a large fraction of the rare metals and materials required for electric car battery manufacture from several mines in countries with  very little environmental regulation. From what you know, the materials extracted are done so throughan environmentally destructive process.

What would you do?

  • What ethical considerations would help drive your decision?  

We challenge you to create a healthy discussion with your colleagues and post a comment below. You could even encourage them to consider taking The Banking and Finance Oath! If you would like to submit an ethical dilemma to feature in an upcoming weekly challenge please email: dilemma@thebfo.org.

 Photo by Science in HD on Unsplash

 

Comments

There are 1 comments for The ethics of green technology.

Re: The ethics of green technology

Friday 3 September, 2021
by Adam
Share your thoughts with the customer. Discuss the current limitations in battery technology supply chains and consider alternatives with better environmental regulation and labour standards. When structuring the loan propose covenants that require / encourage better sourcing and explore alternative funding sources that may assist in meeting this demand.

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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
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In these and all other matters;
My word is my bond.

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