A survey published by Morgan Stanley’s Institute for Sustainable Investing indicates that wealthy Millennials are moving towards putting their money in sustainable companies. The poll targetted individuals aged between 18 and 37 years.
The poll revealed that 95% of Millennials are now willing to invest in sustainable companies. At the same time, the targetted groups showed interest in continuing to shop for socially-conscious products.
From the survey published on Thursday, there was a rise of 9% from a similar poll conducted in 2017.
Lack of Investment Funds
However, the report further highlighted that most Millenials lack enough funds to invest. From the respondents, 800 of the Millennials with funds had at least $100,000 of investable assets found.
According to Mathew Slovik from Morgan Stanley, Millenials are also putting funds in investments the same way they spend on food and clothing.
Around 41% of the respondents indicated that they had put their money in firms with a positive social and environmental outcome. On the other hand, 47% of the surveyed millennials indicated that they check product packaging to ensure sustainability.
About 65% of the respondent with interest in putting their money in sustainable companies revealed that they find the current financial products as a barrier to deploying more capital.
From the survey conducted in the United States, it also emerged that Millennial investors want products that match their interests. About 84% of the Millennials want the ability to tailor their investments to their impact goals. Furthermore, the poll also found strong interest among investors for tracking the impact return on their investments as 90% of the Millenials wanted an impact report.
Investment Challenges
In another poll conducted four years ago, 22% of the Millennials noted that they invested in sustainable companies while 40% checked if product packaging was sustainable. The survey found a similar shift in the general population.
From the 2019 survey, one factor that emerged is that Millennial investors have a challenge in determining the appropriate investment opportunity. This revelation comes at a time when the global sustainable investment hit the $30 trillion mark in 2018.
The Morgan Stanley Institute for Sustainable Investing is a firm that builds scalable finance solutions aimed to deliver competitive financial returns while driving positive environmental and social impact. The Institute creates innovative financial products, thoughtful insights and capacity building programs that assist in maximizing capital to create a sustainable future.
More on top, as LearnBonds.com has previously reported, 40% of Millennials would also invest in cryptocurrencies during a recession because of the shrinking stock portfolios and growth in other asset classes like crypto. According to Guy Hirsch, the CEO of eToro U.S., cryptocurrency trading is one investment vehicle Millennials are aware of in case of the recession.
Millennials comprise individuals who reached adulthood in the early 21st century and covers the generation of people born between 1980 and 2000. Millennials are quickly becoming a force to be reckoned with. Currently, is the largest generation in the workforce.
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