Finances social and ecological projects with cooperative principles.
GLS Bank, founded in 1974, is Germany's first social and ecological bank. It focuses on financing projects and businesses that create social, cultural, and environmental value. The bank's key areas include renewable energy, sustainable housing, organic agriculture, education, social enterprises, and healthcare. GLS Bank operates as a cooperative, owned by its members. As of 2021, it had over 320,000 customers and managed assets of around 11.2 billion euros. The bank offers traditional banking services alongside sustainable investment products and ethical lending. The bank is known for its transparency, publishing details of all loans and investments in its magazine "Bankspiegel." GLS Bank applies strict criteria for lending, excluding sectors such as nuclear power, arms, and genetic engineering. Instead, it prioritizes projects that demonstrate positive social and ecological impact. Recent projects financed by GLS Bank include organic farms, renewable energy installations, affordable housing initiatives, and educational institutions. The bank also supports social enterprises and cultural organizations. GLS Bank is a pioneer in sustainable finance, consistently innovating to align its operations with social and environmental goals. It has received numerous awards for its ethical banking practices and continues to grow its customer base and impact in the sustainable finance sector.