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Newsletter

Ethical investments 'are on the rise'

By Sarah Engle, Wed 2 Jul 2008 - Published in Banking

As people compare money-saving schemes, more Brits are deciding to invest their finances ethically, according to Co-operative Financial Services.

Spokesperson Andy Hammerton said as people become increasingly interested in moral issues they are "more willing to consider an ethical finance product than they were several years ago".

Up to December 2007, the Ethical Investment Research Service reported £8.9 billion had been invested in ethical and green retail funds in the UK.

There were about three-quarters of a million ethical accounts compared to ten years earlier when there were around 137,000 and about £1.5 billion was invested ethically.

In 2007 the overall ethnic market was worth £32.3 billion according to the Co-operative Bank's own figures. This was a rise of nine per cent from £29.7 billion the previous year.

Meanwhile, in 2006 the average household reportedly spent £664 on ethical products compared with £366 in 2002, an increase of 81 per cent.