SILSDEN-based Ecology has become the first building society in the UK to be awarded the coveted Fair Tax Mark.

The accreditation scheme is designed to address the issue of responsible tax.

Paul Ellis, chief executive of the Ecology Building Society, said: "We believe that fair payment of tax is an important part of our contribution to society and helps reduce inequalities which have an environmental cost.

"While tax remains a controversial area for many, as an ethical business with mutual values at our heart we are proud to be the first building society to be awarded the Fair Tax Mark – which sets a benchmark for responsible tax behaviour.

"The award is a further demonstration of our ethical approach."

Richard Livings, Fair Tax Mark project manager, said: "We are delighted that the Ecology Building Society is the latest company to join the growing list of accredited businesses to be awarded the Fair Tax Mark.

"Being proud of the contribution they make through taxation reflects their pioneering approach to finance."