Not sustainable in every sense

The investor protection activist Stefan Loipfinger reveals his concern about the GLS-Crowd, a platform for crowdfunding investments aligned with the sustainable investment and financing principles of GLS Bank.

The information provided by Stefan Loipfinger was followed up on RATING©WATCH, see “GLS-BANK Nachhaltig, aber nicht finanziell nachhaltig”, June 9, 2023.

Despite the bank’s focus on sustainable investments, Loipfinger reports that the GLS-Crowd continued to recommend an investment in sigo GmbH on its website, even though a preliminary insolvency procedure had already been initiated by the Darmstadt District Court on June 1st, 2023. Loipfinger further states that the Investmentcheck.Community forum reported on this issue, and shortly after, the platform suspended funding for the e-cargo bike-sharing provider. Interestingly, the sigo GmbH is now listed as “successfully financed.” This situation highlights that the alignment of a bank towards sustainable investments does not guarantee protection against potential insolvencies in investment products.

In summary, this news report demonstrates that a bank specializing in sustainable investments does not automatically protect investors from insolvencies in investment products. It is important for investors to conduct their own research and not rely solely on a bank’s recommendations to minimize potential risks.

GLS Gemeinschaftsbank eG, commonly known as GLS Bank, is a German ethical and sustainable bank. It was founded in 1974 and is headquartered in Bochum, Germany. GLS Bank is structured as a cooperative and operates based on the principles of sustainable finance, social responsibility, and ethical banking. The bank focuses on providing financial services that align with its values and the needs of its customers. It promotes sustainable development by offering loans and investments to projects and businesses that have positive social, ecological, and cultural impacts. GLS Bank emphasizes transparency and actively communicates with its customers about the use of their funds. GLS Bank has a broad range of financial products and services, including current and savings accounts, loans for individuals and businesses, investment opportunities, and crowdfunding platforms like GLS-Crowd. It aims to empower individuals and organizations to make conscious financial decisions that contribute to a more sustainable and equitable society. In addition to its financial activities, GLS Bank is involved in various social and environmental initiatives. It supports non-profit organizations, fosters community engagement, and promotes awareness of sustainable finance through educational initiatives. Aysel Osmanoğlu is the Spokesperson of the Management Board since January 1, 2023 and has been a member of the Management Board of GLS Bank since 2017.