Economia Social i Solidària

As FETS – Ethical and Solidarity Financing celebrates its 25th anniversary, we sat down for an interview with its president, Jordi Via i Llop, and coordinator, Nina González Fdez-Argüelles.

What is FETS – Ethical and Solidarity Financing, and what is its mission?

Jordi Via i Llop: FETS is an associative network whose mission is to promote growth, knowledge and training in the ethical finance system. After 25 years, it is still strategically important to have an active and operational ethical finance system that people know about as part of a social and economic transformation strategy. FETS serves this purpose.

The association has been around for 25 years. Why was it originally founded?

Jordi: The founding aim of FETS was to promote the implementation of ethical banking in Catalonia. It came out of a previous attempt at ecological banking that was launched at the end of the 1980s. That model didn’t quite work, but it helped to shape the beginning of FETS.

Nina González Fdez-Argüelles: One of the objectives was to develop a type of ethical banking that was committed to human and environmental rights.

What were the founding principles of FETS?

Jordi: It relied on the commitment of a diverse social base, just as it does today, linked to the associative movement, to what was then known as the cooperative world and is now defined in terms of the social and solidarity economy (SSE). From a qualitative standpoint, we are still exactly the same in terms of membership and the associative world.

Nina: At that time, the anti-militarist movement and the peace movements were also part of it. So the context was very different from today. However, the struggle for a banking system that is more present in our country and less involved in arms investments is unfortunately still ongoing.

Why are ethical banking and an ethical finance system so important?

Jordi: There was one aspect that was both explicit and implicit from the very beginning of the association, and that was to understand that while protest and activism were essential, the practical development of cooperatives was equally important. This had to do with the financial world providing resources to support the practical implementation of socioeconomic transformation initiatives, with all the diversity that can entail. It was not just wishful thinking but an intention coupled with a strategic approach to developing alternatives.

In what ways do you work with the SSE?

Jordi: The ethical finance system is embedded in the SSE’s strategic development proposal as a whole. And I think this is extremely positive. If only because we can’t go it alone. We feel well supported. However, when an institution or organisation celebrates its 25th anniversary, as we are now, there is a risk of becoming complacent. It’s important to stay positive, but we also need to look at aspects of our relationship with the ecosystem that ought to be improved.

Nina: FETS was set up as a second-tier organisation, bringing together around fifty organisations from different backgrounds. From the beginning, networking across sectors has been part of the association’s DNA. We define ourselves as a meeting point and structural mainstay for the ethical finance ecosystem.

The growth of ethical finance would not have been possible without the growth, enrichment and diversity of the ethical finance and SSE ecosystem. We move in the same circles, a world clearly linked to the SSE, such as ,ESSBCN2030, where we are part of a working group representing the whole ecosystem. We are also part of other groups, such as the REAS Ethical Finance Board and other campaigns and platforms.

What kind of organisations are part of FETS?

Nina: At the moment, we have 34 member organisations. The aim is to continue our efforts to attract new members while at the same time strengthening the involvement and participation of the 34 we have now, which is particularly important. There are organisations in ethical finance and insurance, SSE, international solidarity, leisure, and formal and non-formal education.

Jordi: When we talk about leisure organisations, it’s encouraging because they are involved actively, not just passively. This shows us that conditions of intergenerational relevance are being created.

What is in the pipeline for FETS?

Jordi: We want to restore the original meaning of economics, which is the management of resources, and therefore of money, at the service of the community and society. We will focus on aspects of responsible public procurement in the context of the ethical finance system for all public authorities. We must also continue to promote a clear distinction between the ethical finance system and the instrumentalisation of both the conventional banking world and the insurance world in matters relating to sustainable development. We must continue to press for the training aspects involved in denouncing this type of practice. Then we need to continue to work on our relationship with the cooperative credit system, where there is a lot of overlap.

Nina: From the beginning, FETS has worked in the field of formal education. The dominant hegemonic model of education is another challenge: we need to advocate a more plural and critical model of economic education. We’re working to increase the presence of other disciplines in economics instruction, both in economics faculties and in secondary schools, upper secondary schools and advanced training programmes, where the model is the same or worse than it was 25 years ago.

What has been achieved in this quarter of a century? How has the development of alternatives evolved?

Nina: These 25 years have seen a spectacular evolution in the specific alternative instruments in Catalonia for ethical financing, savings, investment and insurance. From an individual point of view, it was impossible for anyone who wanted to use their savings ethically to have that option. Now we have a variety of financial and insurance institutions that belong to the ethical and solidarity finance ecosystem, serving individuals as well as SSE organisations and projects. We have all kinds of tools to build this other possible economy.

As for the other point, which has more to do with denouncing a financial system that goes against human rights and life… unfortunately, we still have financial institutions that produce three out of every four weapons in the world. And the problem is growing with the environmental crisis, with all the investments made by banks in fossil fuels, for example.

What would you highlight about the role of FETS in the current context?

Jordi: I like to think that we are an exercise in anti-discouragement, showing that we are thriving individually and socially and that we are doing different things. As the economist Manfred Messner said, the system will implode either because of an economic-financial crisis, an environmental crisis, or both together. And when that happens, it must find us as well organised as possible through dynamics of mutual support. We’re here. So what should we be doing? What we’re doing now, but stepping it up a notch, involving more people, both from the different social movements, including the trade union movement and from the public authorities. The Network of Social and Solidarity Economy Municipalities (XMESS) and ESSBCN2030 can be very useful tools.

Nina: Movements such as feminism, climate justice, and ecofeminism are in a very powerful moment right now and are giving us hope on a generational level. There are a lot of young people engaged in these movements. FETS sees itself at the service of these social movements: ethical finance is a tool to grow the SSE and strengthen all these movements.

How are you going to transfer all this activity, all this cooperation with other social struggles, to the celebration of your 25th anniversary?

Nina: One of the things we are going to do is organise a panel discussion with activists from the ecofeminist and other movements. Now is the time to embrace new emerging social movements, new issues and new challenges that we may not have had 20 years ago.

Jordi: We will also be joined by a folk singing group, Cor de Carxofa. As it happens, the world of folk singing has two dimensions that are directly related to what we do at FETS. One is the grassroots community dimension. The other is that folk singing is only possible by taking a certain risk and subverting the norm that only those who know how to sing can sing. It is singing to inspire community experience. The ethical finance system has a lot to do with this! When the anniversary planning committee agreed to involve the people of Cor de Carxofa, we were not aware of all this. Sometimes we approach reality not only rationally but also intuitively.