Ethical investments and savings are increasingly finding favour, with figures showing the biggest annual rise in a decade. Total money invested ethically rose by more than a third (34%) in 2009 to £19.2 billion, from £14.3 billion, figures from The Co-operative Financial Services show.
By contrast, total deposits and investments registered a far smaller rise of 15%. Ethical investment increased by 40% last year from £6.8 billion to £9.5 billion, compared to a 33% increase in mainstream funds.
In addition, ethical banking increased by 31% over 12 months, from £7 billion to £9 billion, compared to 4% growth in total banking deposits. Monies held in credit unions and ethical stocks also increased by 19% from £552 million in 2008 to £657 million during 2009.
"The growth that we're witnessing is evidence that in the wake of the financial crisis more consumers are considering the ethical as well as financial impacts of their money," said Tim Franklin, chief operating officer, at Co-operative Financial Services."While ethical finance has grown steadily over the decade there has clearly been a recent acceleration."Over the ten year period from 1999 to 2009, ethical finance has enjoyed a near four-fold (373%) hike from £5.1 billion to the £19.2 billion. This includes:
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