Monday 21 September 2020

Majority of consumers ‘still invest in savings accounts or pensions linked to fossil fuels’

Almost 57% of UK consumers would be surprised to learn their savings and pensions are being invested in fossil fuel companies.

That's according to new research commissioned by the digital investment platform Clim8 Invest, which suggests although the top concern for 61% of British consumers is climate change, the majority still invest their money in savings accounts or pension funds that could see them funding oil and gas companies and other industries having a damaging effect on the environment.

The study, which surveyed 2,013 British consumers in September also found that 50% didn’t know where their money is invested.

Findings of the research also reveal around half of Brits believe sustainable investments can have a meaningful impact on the planet with a quarter of the respondents agreeing that impact investing could have a more significant result than making lifestyle changes.

Speaking to FNZ, Duncan Grierson, CEO and Founder of Clim8 Invest, said: "It's fascinating to see that people want to make a difference but actually they are not aware their savings or pensions are doing exactly the opposite.

"Historically, impact investing has been seen perhaps a little fluffy, perhaps a little charity-like but our research suggests you can make a better return, the performance of sustainability investing is very good over the last few years. But we need to raise awareness around that.