Almost 80% of Irish savers believe that responsible investing is important but are unaware if their savings are currently invested in environmental, social and governance (ESG) - friendly products, according to a new survey.
86% of Irish respondents surveyed by Amundi, Europe's largest asset manager said they have some form of savings or investment.
Half of respondents said they would be willing to sacrifice up to 10% of the return on their investment to help the planet.
79% of those with pensions, savings or investments felt that it was important that the provider of their financial product take account of ESG issues.
Despite their efforts, the survey shows financial services firms are not closely associated with sustainability.
When respondents were asked about brands in the Irish market they consider to be responsible, retail giants Lidl and Aldi and energy providers SSE Airtricity and Electric Ireland came out on top.
While the term ESG was not familiar to many, 86% placed great importance on environmental, social and governance issues, such as how companies do business in relation to environmental impact, social issues such as gender balance and diversity, and governance concerns, like how a company board is comprised, or how it treats it shareholders.
However, only 43% made the connection between responsible investment and making a positive impact to the environment or society.
"Issues of the environment and sustainability, as well as the social impact of a company’s actions and the operation of the boardroom are of fundamental importance to us as investors, and they are clearly important to Irish people," said David Harte, Chief executive of Amundi Ireland.
"This survey shows that the investment industry needs to do more to explain its activities in this area and the benefits of the products that it offers," he added.
The survey follows the publication of Amundi’s three-year responsible investment strategy 'ESG Ambition 2025'.
