Minority of savers invest ethically, but majority want banks to be more ethical

Highlighting a poll of more than 2000 UK adults by the ethical bank, the head of personal banking at Triodos said people were missing an opportunity.

The poll revealed that 73 per cent of respondents wanted to see their banks take more responsibility and proactively help society, with 75 per cent calling for more support for small businesses.

But, while 28 per cent stated they wanted to be more socially responsible in their own savings and investments, just 6 per cent actually saved with an ethical bank, with only 4 per cent investing in socially responsible pensions or investment funds.

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Mr Davies said: “Lack of time is a major barrier, but it is a real missed opportunity to put savers’ money to good work.”

Adviser view

Philippa Gee, founder of Shropshire-based Philippa Gee Wealth Management, said: “Ethical saving and investment is an increasing area of concern and it is something every adviser should be talking about. However, not everyone is suited to the increased volatility that sometimes comes with ethical investing.”