A new generation of savers are increasingly looking for ethical value from their savings in addition to the best rates available to them, claims Friends Provident.
Many are now more aware of the implications of their choices when shopping, recycling or choosing a car, and a growing interest in sustainable finance is inevitable it said.
While 23 per cent say that they are interested in the best possible return in savings at any cost, 16 per cent now say that they value ethical as much as cash returns.
This is a greater proportion of people than those who are seeking a known and trusted provider (13 per cent) or those who follow the advice of a friend or advisor (13 per cent).
London leads the way in looking for ethical returns, with 19 per cent, followed by the south west, with 13 per cent concerned about sustainable savings.
“The common view that investors are only motivated by financial return is simply outdated,” said Julia Dreblow of Friends Provident.
“People are increasingly looking to do their bit for society and, for those who are already buying organic and regularly recycling, looking at the impact their investments could have is simply the next logical step.”
Ms Dreblow added that the recent performance of the highly rated Friends Provident’s Stewardship Pension Fund proved that people do not have to make a choice between the best saving account returns and their ethics.
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