Millennials place planet before profit, while becoming a crucial component of the modern investment market
Those born between the early 1980s and the early 2000s, appear to be taking more of a moral stand than their predecessors when it comes to investment
The rise of the millennial generation is dramatically changing the investment industry landscape, according to industry experts, as the demographic cohort places increasing importance on environmental, social and governance issues in gauging investment performance,
Compared with their older peers, a larger portion of millennials now consider the social and environmental impact of their money, rather than just focusing on financial returns, says Suzanne Duncan, global head of research for State Street, the Boston-based financial services company, citing results of a recent survey it has just carried out.
Millennials generally refer to those born between the early 1980s and the early 2000s.
“A third of millennial investors [we have talked to] even indicated ESG (environmental, social, governance) is the only type of investing they are interested in,” Duncan told the South China Morning Post.
ESG is a set of standards that has gained in popularity in recent years in measuring the sustainability and ethical impact of an investment.
“They want their money to have a positive impact on the planet and society,” Duncan said.