A poll commissioned by the UK Sustainable Investment and Finance Association (UKSIF) has revealed that the majority of 18-24 year olds do not know what sustainable investment is – with 37% even unsure of what a actually bank is.
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The results of the YouGov poll, unveiled during Good Money Week, an annual initiative held by UKSIF to raise awareness of ethical and responsible finance, reveal a lack of understanding of the financial world among young Britons.
Lisa Stonestreet, programme director and Good Money Week project manager at UKSIF, said, “A key aspect of Good Money Week is to empower people when it comes to asking questions about how their money is being used.
“In particular this year we are hoping to help young people understand that they have a voice when it comes to where their money is going. The week is an opportunity to make sure that the people they trust with their money are using it in ways that benefit society and protect the environment.”
The event gives students and novices many tools and offers advice on how to approach the world of sustainable finance. With conferences, debates and talks held across the UK until October 25, UKSIF hope Good Money Week will increasing understanding of sustainable and ethical investment opportunities across all sectors of society.
Lily Lapenna, CEO of youth financial education charity MyBnk added, “Unfortunately these findings come as little surprise – for years the UK has educated young people into debt and money lessons have only just now become compulsory in secondary schools. There is much to do and Good Money Week highlights the critical role financial services have to play.
“Only this way can we achieve true financial literacy so young people can save, avoid unsustainable debt and make informed decisions. Get curious, ask questions and seek help”.
Photo: Penny Mathews via freeimages