What’s Going On Here?
Demand for ethical investment is rising, with research showing 42% of Britons would choose an ISA that has a positive impact on society and the environment.
The topic is HOT this week as savers look to utilise the £20,000 ISA allowance before the end of the tax year on 6th April. ????
What Does This Mean?
An Individual Savings Account (ISA) is a savings or investment account offered by banks & other financial services that has tax benefits versus your average savings accounts or investment funds.
The move to ethical investment ISAs reflects a wider change in society ????. We are seeing an increase in consumer conscientiousness with consumers showing greater interest in opposing single-use plastics, green energy providers and veganism. ????
Why Should We Care?
There’s nothing stopping mainstream banks taking your ISA savings and lending them to companies involved with armaments, nuclear weapons, animal testing, tobacco, pornography and the fossil fuel industry.
Yet 80% of people have “no idea” as to where their money is being invested.
If you want to be smarter with your money, and particularly your savings, check out the Ethical Consumer website and their money pages. You’ll find an excellent table of the most ethical cash ISAs and a useful tool to customise the results to your preferences.
For the more adventurous [that means more risk] Ethex offers a range of investments issued by international social investors. These offer a great way to support renewable energy from a local hydro or new affordable housing scheme whilst also getting a tidy return.