With more and more people wanting to invest their hard-earned dollars in ways that meet their financial goals and sit well with their personal ethics, it’s safe to say that going green is here to stay.
Eighty per cent of Australians expect their money in super, banks and other investments to be invested responsibly, with 17% of us already investing in ethical and responsible products, according to the Responsible Investment Association Australasia (RIAA). The industry body represents fund managers, advisers and super funds and promotes responsible investing and sustainable finance in Australia and New Zealand.
The RIAA’s survey of consumer preferences when it comes to ethical investing found that 72% of survey participants are concerned with greenwashing. The report, From Values to Riches 2022: Charting consumer demand for responsible investing in Australia, also details how 74% of survey respondents would consider moving to another provider if they found out their current fund was investing in companies engaged in activities inconsistent with their values.
At the same time as more people are demanding greater choice in their investment products, new supply has been coming into market. At the recent environmental, social and corporate governance (ESG) best practice forum run by the Financial Standard (which, along with Money, is published by Rainmaker Information), financial adviser Vaughan Hain, from ethical advisory group Ethinvest, pointed out there was more choice than ever.
This story is from the August 2023 edition of Money Magazine Australia.
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This story is from the August 2023 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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