Over half, 57 per cent of millennials demand fossil fuel free pension investments, a survey has found.

According to a YouGov poll for Good Money Week, coordinated by the UK Sustainable Finance and Investment Association, the emphasis from millennials for sustainably invested funds has grown, with 57 per cent of investors under 24 wanting this, while a lesser 34 per cent of over 45s call for sustainable investments.

While demand for ethical and sustainable investment has risen, 57 per cent of the UK public believe that it is the responsibility of investment managers to ensure that savings are managed in a way that is positive for the environment and society.

The YouGov research noted that 47 per cent of people were looking to have a positive impact through their investments as well as making positive returns. In comparison, 39 per cent of respondents said they were only concerned if their investments made money.

Moreover, the survey highlighted that over three quarters, 76 per cent of the 2,128 respondents aren’t aware of how much, if any, their pension is invested in ethical funds.

A further 30 per cent said they do not have a say in what their pensions are invested in, however, one in four said they would challenge their employer if the pension was invested in an unethical company that was against their values.

UKSIF chief executive Simon Howard explained that the financial services industry now has the opportunity to “make it easy” for savers to make responsible investments.

Good Money Week seeks to spread awareness to consumers about the sustainable and ethical options for their finances and savings.

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