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Ethical investment and banking awareness remains low

20 November 2009 / by Rebecca Sargent

Ethical investment and banking awareness remains low, a study by EIRIS (Experts in Responsible Investment Solutions) has revealed, despite the fact that 44 per cent of the British public are interested in finding out about the ethical credentials of the next financial product or service that they buy.

In fact, the survey, conducted by Ipsos MORI found that 62 per cent of those surveyed could not name or describe in detail any ethical banking products or services.

Meanwhile, the survey also identified a number of barriers, including the fact that 35 per cent of respondents agree that they would not buy ethical financial products and services because they 'do not trust the claims of financial providers'.

A lack of information also plays a key role as 46 per cent of respondents agree that 'there is not enough information available on how they make a visible difference in the world'.

Commenting, Mark Robertson, communications and development manager at EIRIS said: "Our survey provides firm evidence of growing interest in ethical finance, suggesting that the message that it is possible to both make money and make a difference when investing ethically is starting to get through to consumers.

"But levels of awareness, trust and confidence in ethical finance are low. The industry must respond with greater transparency and provide more information on how saving and investing can make a positive difference."

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