10th September 2023
In an era of evolving challenges, pension providers and wealth managers need to navigate a crucial path by upholding environmental, social, and governance(ESG) principles. The rise in younger consumers embracing sustainable investments underscores the enduring significance of ESG commitments. With climate change concerns looming and a generational wealth transfer on the horizon, adhering to green-oriented investment strategies offers not only long-term benefits but also safeguards against potential repercussions for those who neglect ESG factors, says GlobalData.
GlobalData’s 2023 UK Life and Pensions Survey reveals that younger consumers are over 50% more likely to put emphasis on sustainable investment principles. Furthermore, 69.9% of under 40s see the principles of sustainable investment as important to some extent–compared to just 42.7% of consumers aged 40 and over.
Benjamin Hatton, Insurance Analyst at GlobalData, comments: “Pension providers that maintain green-oriented investment strategies are likely to keep the business of young investors, which will only grow in size over time as the great wealth transfer looms. This younger cohort is also half as likely to consider sustainable principles as unimportant to some extent than the older generations.”
GlobalData Trends(192 articles)
