ESG factors having stronger effect on consumer attitudesNovember 2014
Corporate performance on environmental, social, governance and ethical grounds can have a strong effect on how consumers feel about their bank or wealth manager.
Indeed, a new Ipsos MORI survey for global responsible investment research firm EIRIS, finds that investment in companies that perform poorly on responsible or ethical finance concerns can be almost as strong a motivator in choosing to switch financial provider as poor customer service.
Among the 1,837 of those surveyed who have ever personally bought or taken out a financial product or service around a half (51%) are likely to consider switching from their main financial provider if they have reason to believe their financial activities (e.g. lending, insuring) contribute to harmful social activities, such as human rights abuses, child labour or forced labour.
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