Research carried out by Rathbone Greenbank Investments to coincide with Good Money Week has found UK citizens are more aware of climate change issues as a result of the pandemic.
A survey of 2,000 individuals found that 31% of people felt their experience of the pandemic has increased their awareness of the issue of climate change, making the need for a green recovery more evident.
Furthermore, when asked how individuals may best encourage a green economy, a quarter of respondents (24%) said that investing in companies making a positive impact would be key.
See also: – Good Money Week: Three funds for a sustainable world
Despite this, previous research carried out by Rathbone Greenbank Investments found that high net worth individuals (with over £250,00 of investable assets) claimed to care about climate change but 38% said they still invested in fossil fuels.
John David, head of Rathbone Greenbank Investments, commented on the findings: “Many have referred to the Covid-19 pandemic as a wake-up call to the planet. It’s increasingly clear that as we build towards an economic recovery, our impact on the environment should be a key consideration.
“It is reassuring to see a growing awareness that money can have a power to drive the change people want to see in the world.
“It is all too often easy to forget that your investments or where you choose to save your money can have an impact – both positive and negative. Being alive to this fact is the first step to empowering your choices and ensuring that your finances reflect your values.”
Turning to the younger generation, Rathbone Greenbank’s research found that over one in 10 (12%) of 18-34 year olds had already invested in companies that are making a positive impact in the last 12 months, showing their increased understanding of the role money can play in making a difference.
In terms of engagement, a further 11% said their money or voice could drive a greener economy by exercising their voting rights at shareholder meetings.
The research was carried out by Opinium from 16-20 October 2020.
