As the year draws to a close, we thought we’d take a moment to reflect on the year that has passed. There’s been a lot going on around the world but also here in our little corner of Edinburgh. 

The year began on a dramatic note with the inauguration of Donald Trump for a second term as President of the United States of America. He hit the ground running with the introduction of a series of import tariffs. He claimed their purpose was to encourage domestic manufacturing and to benefit the US economy. He claimed it was a tool to regulate trade and retaliate against countries that he claimed take advantage of the USA. He deemed the 2nd of April to be ‘Liberation Day’ and introduced tariffs ranging from 10% all the way up to 50%. This triggered market instability, disruption in supply chains, and increased costs for US businesses. The tariffs have not revived US manufacturing and instead have caused uncertainty and an increase in the cost of living for everyday Americans. It remains to be seen what the long-term economic impact will be. 

In July, Chancellor Rachel Reeves introduced the Leeds Reforms, which are a package of reforms for the financial sector. They are designed to make it easier for financial services to grow and prosper in the UK. They are widely seen as a significant reset after many years of tighter control after the 2008 crash. 

The reforms focus on three main areas; banking, mortgages, and investments. Some of the issues covered include bank ring fencing, mortgage limits, and promoting investment. To learn more about the Leeds Reforms, click here. (Please bear in mind that the post this link takes you to was written before the recent Autumn Statement.) 

The 30th Conference of the Parties (aka COP30) was held this November in Belem, Brazil. One of the main takeaways from the conference is that there is a lack of progress regarding moving away from our reliance on fossil fuels. Although a fossil fuel phase out plan was not created, leaders have reaffirmed the 1.5 degree target and highlighted the significant and persistent gaps in our global climate action. 

In November, Chancellor Reeves announced her Autumn Budget. There had been speculation beforehand about how the Chancellor would handle what she called the ‘economic black hole’. There will be some changes to tax, a change to ISA allowances, and the removal of the two-child cap on Universal Credit and Child Tax Credit. We shared a more comprehensive view of the announcement here. 

Once again, we've had a busy time here at Ethical Futures. In January 2000, Julian took his first steps into the world of ethical investment, so we started the year celebrating his reaching 25 years of hard work. In the years since, he has seen the sector grow and develop. What was once a relatively small niche is now an acknowledged sector, worthy of attention from government, regulators, industry and an increasing proportion of the public. 

Our sector is still a fairly small proportion of global markets, but its impacts are far reaching, and the consideration of ESG factors as a risk assessment tool is now well entrenched in many conventional investment models. Investing ethically is not just about the potential financial gain; it’s about influencing corporate behaviours and making money available to innovators to improve the world we live in. To read Julian’s full musings, click here. 

In March we were delighted to hear that Alan Whittle, our external compliance associate, received his doctorate from Manchester Metropolitan University. His research is centred around impact investing and how people make their financial decisions. We’ve been happy to support him over the last few years and we’re so proud of his achievement. To learn more about his research, click here. 

In May, Julian and Marian attended the UKSIF Spring Conference at Dynamic Earth in Edinburgh. Julian was asked to speak on a panel alongside Miranda Beacham from Aegon and Ly-Sia Quach from WeeFin on regulation. They spoke about SDR and agreed that it is a good regulation, but there have been teething problems in its implementation. They feel that it is rigid with little flexibility which leads to some companies not being keen to apply for a label. Alongside their panel, we also heard from Deputy First Minister Kate Forbes on the importance of collaboration between the public and private sectors to bring about the changes necessary to battle the climate crisis. Will Outon from the Marine Conservation Society shared some powerful facts about the oceans including ocean acidification and industrial trawling. To read Marian’s full account of the day, click here. 

We want to make sure that we keep up to date with our clients’ thoughts and opinions on topical issues. Therefore, we have committed to launching an annual survey. This year it was launched in August and covered two main topics – the Climate Crisis and Artificial Intelligence. Julian and Marian drafted ten questions that were shared out to 259 clients across all three advisers’ client banks. By drafting a range of questions across multiple aspects of the topics, we feel that we gave our clients ample opportunity to fully explore the issues raised and gave them the freedom to answer openly. To read our full survey report, click here. 

In September we reached a significant milestone in our history – we turned 20! Ethical Futures was founded in 2005 by Julian Parrott and Martin Wight. They kept noticing the same problem – what their clients believed in didn’t always match up with how their money was being invested. And so, Ethical Futures was born. 

From day one our guiding mission has been simple. We want to help you to “Make your money change your world”. Although the last 20 years have seen the ethical finance sector grow in popularity, it hasn’t always been plain sailing. Like everyone, we have faced some challenges. But through it all, our clients have stuck with us. Many have been with us for years, some from the very start, which tells us that we must be doing something right.  

We may not be the biggest team out there, but that’s never been the point. What matters is that our clients know they can trust us. They see that our commitment to ethics isn’t a marketing slogan; it’s baked into everything we do. 

To celebrate this achievement, Julian kindly treated us all to lunch at a local restaurant, Dublin St Social. To read more about our story, click here. 

On a less celebratory note, Martin Wight retired from Ethical Futures in October after 20 years. Martin was diagnosed with a serious illness in December of 2024 and has been receiving treatment throughout this year. Unfortunately, it has been confirmed that he will be unable to return to work and therefore has taken ill-health retirement.  

Martin built strong relationships with his clients, and we have already passed on many good wishes to him. We have missed his cheeky demeanour and the Teams trivia quiz has definitely suffered from his absence. We are sure you will join us in wishing Martin well for the future. 

We end the year on an exciting note; we recently announced our merger with Origen Financial Services. We will be joining their team in the New Year, so we start 2026 at the beginning of an exciting new chapter. We see this as the beginning of a bright future for Ethical Futures. By joining Origen, we will have access to more resources and a larger team, meaning that we can continue to offer high quality, ethical financial advice for years to come. To learn more about Origen, click here. 

And that’s a wrap. We hope that you have a lovely festive season and we look forward to continuing to make your money change your world in the New Year.