Ethical savings and green mortgage provider Ecology Building Society says assets have passed £120 million.

The Silsden-based mutual said total assets had grown from £109.7 million since the end of December, building on last year’s asset rate growth of 6.1 per cent and driven by the popularity of its transparent savings accounts and an expanding mortgage book The milestone was announced at the start of National Ethical Investment Week and Ecology said it was further evidence of the strength of the sustainable investment sector.

Paul Ellis, chief executive, said: “Our financial success is based on sticking to our core principles: thinking long-term, putting our members first and focusing on our social and environmental impact. And with the right people in place to guide our future growth, we can make even more of a difference.

“The potential for sustainable finance has never been greater, with 63 per cent of British investors wanting a sustainable and ethical option when choosing their savings and investments. At the same time, the challenge of cutting the carbon emitted and resources wasted through the way we live has never been more urgent.”

Three new non-executive directors have joined the Ecology board.