By: Olaf Weber / University of Waterloo
In this paper we will give an overview about the history of ethical, socially responsible and
sustainable banking (see Figure 1). Thus it will not provide a general historical overview about banking and finance but concentrate on sustainable, socially responsible or ethical banking. Let us explain why we present some specific events in this paper. The overview starts with the foundation of the first banks in Italy in the 16th century. These banks were founded to guarantee financial flows between those that could provide capital and those that needed capital to start or to conduct a business. They were a type of community banks or credit unions and therefore a model for modern sustainable or ethical banks, financial cooperatives and credit unions.
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