The majority of Australians (88 per cent) are expressing a desire to invest ethically, either via super or other investments, but have trouble identifying truly ethical financial products, according to a study by the Responsible Investment Association Australasia (RIAA).
The report, From Values to Riches 2024, found that 76 per cent of Australians will consider moving their money to another provider if their current fund don’t align with their values. However, 78 per cent are concerned about greenwashing.
Of the top seven ethical concerns Australians have about where their money is being invested, animal cruelty tops the list with 66 per cent of respondents saying they want to avoid it, followed closely by human rights abuses at 60 per cent.
Other investments Australians want to avoid are companies whose operations include gambling (56 per cent), tobacco (55 per cent), weapons and firearms (55 per cent), tax avoidance (55 per cent), and non-medical animal testing (54 per cent).