© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - New Research Reveals Discrepancy Between Public and Business Ethics
Posted 8th June 2015

New Research Reveals Discrepancy Between Public and Business Ethics

New research reveals 70% of people want to invest ethically but the financial services industry is failing to respond

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

New Research Reveals Discrepancy Between Public and Business Ethics
Image

New Research Reveals Discrepancy Between Public and Business Ethics

New research reveals 70% of people want to invest ethically but the financial services industry is failing to respond 

– The third annual ‘Great British Money Survey’ reveals 70% of people would be unhappy if they discovered their money was being invested in unethical businesses

– More people think that corporate tax avoidance is an unethical business activity than pornography or selling arms, a stark fact when 98% of the FTSE 100 engage in some form of tax avoidance

– Abundance launches new campaign “Consequences: possibly the least used word in the investment world” with eye-catching installation in the middle of Canary Wharf

Abundance, the UK’s leading ethical investment platform, today publishes a report which reveals that the majority of people in the UK do not want their investments to harm others or the environment, and that the range of activities they consider unethical is evolving and growing. The report, entitled “Consequences: possibly the least used word in the investment world”, also highlights that despite this significant trend in public attitudes, the financial services industry is – as yet – doing virtually nothing to respond. 

For the third year running Abundance has sponsored the ‘Great British Money Survey’ which underpins this report, conducted amongst 2,000 UK adults in May 2015 by the independent research company One Poll.  

The key findings are:   

– 70% want to invest in things that give a good return and don’t harm our future

– 70% would be unhappy if they discovered their money was invested in unethical businesses

– 65% consider corporate tax avoidance unethical, second only to child labour and human rights abuses, yet 98% of FTSE100 engage in tax avoidance

– 66% agree that investments in fossil fuels are getting more risky

– 59% would view an organisation that had committed to divest from fossil fuels more favourably

– 36% think fracking is an unethical activity

–  70% want to be in control of where their money is invested and choose exactly where it goes

– Only 35% of people think their bank is transparent about where their money is invested

Bruce Davis, cofounder and joint MD of Abundance said, “When does the desire to make a profit overcome your desire to do the right thing? For most of us, there are a series of red lines which we are unwilling to cross in the pursuit of profit when we invest our money. These latest research findings are very clear on this; the majority of us would be unhappy if our money was invested in a range of unethical activities, from tax avoidance to child labour, pornography to fossil fuel extraction.

“And yet, the finance industry has been slow to respond to the ethical concerns of its customers, preferring to tell itself that ‘most people’ would prioritise a financial return over ethical consequences. A lot of the debate around ethics takes place in the twin bubbles of the City and Canary Wharf, which have a rarefied view of profit and consequences, reflecting a world that is increasingly investing in itself and is cut off from the attitudes and behaviours of ordinary investors and savers.

“With a few major companies now making moves to actually pay tax in the UK, while others divest from fossil fuel investments, there are signs that some business leaders are starting to respond. But the gap remains vast; there is a long way to go before big business reflects the ethics of the public it serves and the people whose investments own much of it.”      

Today also sees the launch of the Abundance “Consequences” campaign which seeks to raise awareness of this huge ethics gap. As part of a wider series of initiatives, the Canary Wharf financial district is today confronted with an unmissable message designed to get the industry thinking about the consequences of money and how it is invested. Weighing more than 4.5 tonnes, 40 feet in length and 9.5 feet high, the Abundance pink box announces in no uncertain terms that ethical investment is a top priority for the high street investor and that it is time for high finance to take note. 

Since its launch three years ago Abundance has provided the public with a range of ethical investment choices, so far all in the renewable energy sector. These opportunities have been offered as debentures with a minimum investment of just £5 to ensure easy access for the widest possible audience. They pay an equivalent return of between 6 and 9% (depending on the project) in twice yearly cash payments over the term of the project, typically 20 years, although investors wishing to cash in early can sell their holdings on to others via the Abundance website. So far more than 1800 people have invested nearly £10 million directly into the projects of their choice. 

Capital is at risk and returns are variable. Investments are long term and may not be readily realisable.

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
Two Decades of Endless Success
News
26/07/2022Two Decades of Endless Success

A company that is relentless in its devotion to customer service, innovation, and conservation, Lucion Services, in its 20 years of operating, has become a frontrunner in its industry.

Read Full PostRead - Eye Icon
WKB Advise Aviva During Acquisition of Expander Advisors
Legal
15/07/2015WKB Advise Aviva During Acquisition of Expander Advisors

WKB Advise Aviva During Acquisition of Expander Advisors

Read Full PostRead - Eye Icon
Lawrence Grant Chartered Accountants
Finance
03/06/2016Lawrence Grant Chartered Accountants

Lawrence Grant Chartered Accountants has been providing accountancy services and tax advice to 100’s of individuals, sole traders, corporate businesses and multi-national clients across Middlesex and the Greater London area since 1969.

Read Full PostRead - Eye Icon
JP Morgan Advises Opko’s Acquisition of Bio-Reference Laboratorie
Finance
06/08/2015JP Morgan Advises Opko’s Acquisition of Bio-Reference Laboratorie

JP Morgan Advises Opko's Acquisition of Bio-Reference Laboratorie

Read Full PostRead - Eye Icon
Defining the Future of Corporate Digitisation
News
12/03/2024Defining the Future of Corporate Digitisation

Recently anointed as the Best AI-Driven Corporate Advisory Platform 2024 – Global, WebAccountPlus is a company who holds an undeterred desire to pioneer the future of corporate digitisation.

Read Full PostRead - Eye Icon
IBM Closes Acquisition of Resource/Ammirati
M&A
24/02/2016IBM Closes Acquisition of Resource/Ammirati

IBM today announced it completed the acquisition of Resource/Ammirati -- a leading, US-based digital marketing and creative agency -- to join IBM Interactive Experience or IBM iX, the world's largest digital agency. Financial terms were not disclosed.

Read Full PostRead - Eye Icon
Finding Fantastic Franchise Opportunities
Leadership
08/02/2021Finding Fantastic Franchise Opportunities

In the current economic climate, the lack of employment opportunities, risk of layoffs, long-term unemployment outlook, and competition in the workplace have led to higher stress on the job and much lower satisfaction in the daily grind. COVID-19 has left the

Read Full PostRead - Eye Icon
Structuring a Fair Salary Scale
Finance
07/04/2020Structuring a Fair Salary Scale

Once you have decided that you need to hire a new member of staff, you need to think not only about what their role will include, but also what you will pay them. Paying a fair salary is a vital aspect of procuring the right new recruit – get it wrong and yo

Read Full PostRead - Eye Icon
6 Tips To Enhance Commercial Fleet Sustainability
Strategy
10/01/20236 Tips To Enhance Commercial Fleet Sustainability

More and more, the idea of making business socially responsible has become urgent in light of the looming crisis. As the push to become eco-friendly intensifies, making commercial fleets sustainable is becoming the norm, especially for those of a considerable



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow