LONDON, June 10, 2015 /PRNewswire/ --
Abundance, the UK's leading ethical investment platform, today publishes a report which reveals that the majority of people in the UK do not want their investments to harm others or the environment, and that the range of activities they consider unethical is evolving and growing. The report, entitled "Consequences: possibly the least used word in the investment world", also highlights that despite this significant trend in public attitudes, CEOs and boards of large businesses are doing virtually nothing to respond.
The key findings are:
- 70% want to invest in things that give a good returns and don't harm our future
- 70% would be unhappy if they discovered their money was invested in unethical businesses
- 65% consider corporate tax avoidance unethical, second only to child labour and human rights abuses, yet 98% of FTSE100 engage in tax avoidance
- 70% want to be in control of where their money is invested and choose exactly where it goes
- Only 35% of people think their bank is transparent about where their money is invested
Bruce Davis, cofounder and joint MD of Abundance said, "This latest research is very clear that themajority of us would be unhappy if our money was invested in unethical activities, from tax avoidanceto child labour, pornography to fossil fuel extraction.
"And yet, CEOs and boards of our top companies have been slow to respond to their customers' ethical concerns, preferring to tell themselves that 'most people' would prioritise a financial return over ethics. Our findings prove that the opposite is true when it comes to those who are the actual owners of these companies' shares through our collective multi trillion pound pension and ISA investments."
Today also sees the launch of the Abundance "Consequences" campaign, which seeks to raise awareness of this huge ethics gap. It includes the Canary Wharf financial district being confronted with an unmissable installation and message designed to get the industry thinking about the consequences of where money is invested.
Capital is at risk and returns are variable. Investments are long term and may not be readily realisable.
Notes for editors
The Abundance report: "Consequences: possibly the least used word in the investment world", outlining the demand for ethical investment in the UK and key findings from The Great British Money Survey II, is available to download at: http://tinyurl.com/qb2k67m
Abundance is a leading direct investment platform that is putting people in control of their money. People invest in individual projects that generate something good for the environment and society as well as bank beating returns.
Since launching in 2012 more than 1,800 people have invested close to £10 million directly into the projects they support.
Abundance and Abundance Generation are trading names of Abundance NRG Ltd which is authorised and regulated by the Financial Services Authority (no. 525432).