Newcastle-based ethical lender, Shared Interest Society, has once again received royal recognition, this time with the King’s Award for Enterprise in the Sustainable Development category, as it marks 35 years of financing a fairer world.
This is the fourth time Shared Interest has been honoured with this prestigious award, celebrating the Society’s unwavering commitment to sustainable development. The accolade acknowledges organisations whose products or services benefit society, the environment, and the economy in a commercially successful way.
With over 10,000 UK members and total investments exceeding £50.9 million, Shared Interest helps nearly half a million people across 47 countries to trade and earn a living. The Society’s work centres on providing vital finance to smallholder farmers and craft organisations who adhere to Fair Trade Principles but lack access to conventional banking.
From its headquarters in Newcastle city centre, Shared Interest operates globally, with representatives based in Costa Rica, Kenya, Ghana, and Peru. This ensures they remain connected to the rural communities they serve, particularly in regions grappling with the twin challenges of poverty and climate change.
Patricia Alexander, the soon to retire Managing Director of Shared Interest, said:
“Receiving the King’s Award in our 35th anniversary year is a truly special moment for us. It recognises the resilience and determination of our global community of members, customers, volunteers, and staff who continue to work tirelessly towards a more equitable world.
“Since our last royal recognition, we have grown our membership base to over 10,000 and increased our lending impact, reaching more than 416,000 producers, including 156,000 women, across the globe. This award celebrates the collective efforts of those who believe in the power of trade, not aid, to lift people out of poverty.
“As I step down as Managing Director, I reflect with immense pride on the journey we have taken together. From navigating global crises like the pandemic and climate change, to adapting our lending to ensure producers remain resilient, Shared Interest remains a beacon of ethical finance. I am confident that the Society is well-positioned to continue expanding its reach and impact for many more years to come.”
