The number of consumers willing to invest ethically has risen by 18% over the past year, according to Co-operative Insurance.
Furthermore, eight out of ten investors think ethical investments can perform as well as or better than mainstream markets.
Co-operative Insurance’s annual survey of attitudes towards ethical investments found 85% of people planning to invest in an ISA would consider using an ethical scheme, up from 67% in 2006.
Data from the Investment Management Association backs up the claims, with ethical funds under management reaching £5.9bn in the last quarter of 2007, up by 18% compared with the same period in 2006.
Respondents to the survey also believe ethical funds can perform as well as other funds on the market, with 77% saying an ethical fund can perform at the same level as mainstream offerings.
Commenting on the findings, Zack Hocking, head of investments at Co-operative Insurance, says: “While ethical investment still represents a small amount of the overall market, evidence strongly suggests that growth is set to continue.
“We expect to see significant interest from customers wanting to invest their ISA allowance ethically as the deadline approaches.”
Further research from Co-operative Bank also shows a growing interest in ethical personal finance products, with the amount held in ethical savings and investments growing from £11.6bn in 2006, to £13.3bn in 2007.
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