Brits 'look to ethical savings'

Fri, 23 Feb 2007

A growing number of UK consumers are turning their eye towards more ethical savings products, looking to invest their savings in commodities with a positive ethical outlook, according to new research.

Research from Co-operative Financial Services (CFS) reveal that ethically responsible saving is becoming increasingly popular among UK savers as more people aim to boost their principles as well as their profits.

According to CFS 67 per cent of those planning to use their individual savings accounts allowance before April are considering investing their savings in schemes that have positive environmental benefits. Zack Hocking, head of savings and investments at CFS explains how more people are taking the ethical savings route .

"As green ISA's [individual savings accounts] allow investors to satisfy their hearts as well as their heads, we expect the deadline rush to be the start of a significant rise in the amount of money placed in ethical funds," he said.

Figures reveal that ethical investments grew by 10.5 per cent in 2005 to a total of over £6 billion, indicative of shifting trends towards ethical savings.

Earlier this month it Co-operative Insurance Sustainable Leaders trust reported that ethical funds are the most popular among UK investors, underlining the growing demand for ethical savings products and investment opportunities.