Social responsibility most important to Generation Y investors, says survey

Younger investors are more concerned about making socially and environmentally responsible investments, according to a survey by investor website Millionaire Corner.

Its study found that in 49% of millionaire investors from Generation Y, also known as the Millennial Generation , social responsibility is a factor in their investment decisions.

This concern was less evident in older generations, with 43% of millionaire investors from Generation X, and 27% of seniors claiming to take into account social responsibility.

For investors with less than $1m to invest, though, it is even more of a priority. Over half of non-millionaire investors from Generation Y say they make socially responsible investments, although the samples used by the survey are unclear and the raw data is not available.

In 2012, Nielsen’s Global Corporate Citizenship Survey similarly found that younger consumers are more appreciative of corporate social responsibility efforts.

However two studies published in 2012, also by Millionaire Corner, claimed that overall, millionaire investors are more concerned about profits than investing ethically.

These studies contradict independent research however. A separate study by the European Sustainable Investment Forum (Eurosif) found that sustainable investments by high net-worth individuals in Europe increased by almost 60% between 2010 and 2012.

Further reading:

 Are we investing in the future we want for our children and grandchildren?

‘There are no moral or ethical considerations when investing’

Two US polls contradict independent research on sustainable investment

Telegraph article ‘wrong’ about ethical investment

The Guide to Sustainable Investment 2013