Customers considering green financial products should look carefully at the details of each before making their choice, experts have suggested.
The Ethical Investment Research Service (EIRS) claimed that consumers hoping to make a difference to the environment may be swayed by the increasing number of green products on the market, although it advises many to research a product before agreeing to take it out.
In some cases, the product may provide less return for an ethical cause than a separate donation to charity, which is something some consumers could bear in mind.
Stephen Hine, head of international relations for EIRS, explained: "We're not able to give financial advice, but I think people should exercise due caution and think: 'Will there be a return going to the environmental cause … or will it make more sense to do it directly.' But again, it depends on the product."
There are increasing numbers of green and ethical products on the market, including the newly launched Barclaycard Breathe credit card, from which Barclaycard promises to donate half the profits to help reverse climate change.
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