Good Money Week research shows UK want fairtrade finance
By Finance Matters
New research coming out of Good Money Week, a national week to promote responsible investment, shows that the UK public would like ethical investment to be made easier. 63% support the introduction of a ‘kitemark’ style label to help costumers identify sustainable financial products – similar to how shoppers at a supermarket can distinguish fairtrade bananas. Close to 70% of the UK public supports a new law requiring their IFA to ask all customers if they would like to exclude certain sectors, such as tobacco or arms industries, from their investments.
The demand for fossil-free investments is led by the millennial generation; 46% of 18-24 year olds would like their bank, pension or savings to provide a fossil-free option, compared to only 28% of those 55 and over. However, the research also shows a surprising lack of awareness among this cohort that ethical financial products in many cases already exist.