Renewable energy is young generation's top investment choice
A nationwide survey has found that renewable energy is the British public’s top investment choice after property but is the number one alternative for 18 to 24-year-olds.
The findings show the country’s investment preferences reflect fast growing public support for clean power.
The 'Great British Money Survey' was carried out by One Poll to gather insight into the spending and investment habits of 2,000 people across the United Kingdom. It was commissioned by Abundance Generation, the FCA regulated crowd funding platform.
When asked about their preferred investment areas, 43% chose property; 33% renewable energy; 23% traditional energy (oil, coal, gas); 19% manufacturing; 15% consumer goods; 14% hospitality; 12% transport and 3% 'other'.
The survey also showed that Briton’s place most importance on financial return, risk, transparency, environmental and ethical impact when deciding their investments.
Other key findings are that:
*Renewable energy is the top investment choice for 18 to 24 year olds, over property.
*75% would be unhappy if their money was invested in companies that damage the environment or are otherwise unethical
*22% are happy with their money being invested in companies that damage the environment or are otherwise unethical
*71% want to know where their money is being invested
*72% named risk and 75% financial return as of high importance when investing
*55% of people view renewable energy as medium to low risk
*26% view renewable energy as high to very high risk, with 19% unsure
*68% of people would find an investment in renewables at 8% return attractive
*Despite investment risk being considered of high importance, 82% either haven’t heard of or don’t understand the meaning of the 'Carbon Bubble'.
Bruce Davis, co-founder and joint managing director of Abundance Generation, said, "These results are really quite ground breaking. We’re now not only seeing majority public support for renewable energy, but people actively wanting to put their money in it too. Britain is a nation in love with property, so it’s no wonder this is at number one, but to see renewables favored above old energy is a great vote of confidence in the sector."
"We know that from the rapid take up of crowd funded renewables investors are actively looking for inflation beating returns. People would much rather get them through investing in the real economy in assets that they can see, trust and believe in."
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Renewable energy image via Shutterstock.