More look to their own finances to power a green recovery
New research from Rathbone Greenbank Investments reveals that a quarter of UK people believe investing only in companies making a positive impact is one of the best ways to turbocharge the economy.
UK citizens are increasingly realising the power that money can wield in encouraging a fair recovery, according to new research from Greenbank. When asked how individuals may best encourage a green economy, a quarter (24%) believed that investing in companies making a positive impact would be key.
Greenbank’s research of a nationally representative sample of 2000 found that 31% of people felt their experience of the pandemic has increased their awareness of the issue of climate change, making the need for a green recovery more evident.
Previous research from Greenbank amongst high net worth investors (those with over £250,000 of investable assets) highlighted a discrepancy between the values and the investments of many investors. Respondents that claimed to care most about climate change continued to invest in fossil fuels (38%).
However, younger generations, in particular, are increasingly likely to understand the role money can play in making a difference. Over one in ten (12%) of 18-34 year olds had already invested in companies that are making a positive impact in the last twelve months.
A further 11% of people felt their money and their voice could be used in unison by exercising their voting rights at shareholder meetings to encourage behaviour that would drive a greener economy.
John David, Head of Rathbone Greenbank Investments: “Many have referred to the Covid-19 pandemic as a wake up call to the planet. It’s increasingly clear that as we build towards an economic recovery, our impact on the environment should be a key consideration.
It is reassuring to see a growing awareness that money can have a power to drive the change people want to see in the world.”. It is all too often easy to forget that your investments or where you choose to save your money can have an impact – both positive and negative. Being alive to this fact is the first step to empowering your choices and ensuring that your finances reflect your values.
Aligning your money with your values doesn’t have to mean losing out financially either. Investing in sustainable and socially conscious businesses can be a sensible long-term strategy.”
Research conducted by Opinium research between 16-20 October 2020. Nationally representative sample of 2000 adults.