EIRIS Foundation releases latest market estimate for UK green and ethical funds
Assets Under Management in UK green and ethical funds has shown modest growth in 2022 to £62.5 billion*, according to the latest figures compiled by the EIRIS Foundation. The Foundation, a research, advice and advocacy charity working in the area of responsible investment, is pleased to release its annual market estimate during Good Money Week 2022, an annual campaign aiming to promote sustainability in retail finance. This figure is based on the funds under management figures of UK domiciled green and/or ethical retail funds. This year’s estimate, up from £61.12 billion in 2021, reflects that although it has been a volatile year for retail fund sales, consumers are still interested in investment products that take environmental, social and ethical issues into account.
Peter Webster, CEO of the EIRIS Foundation, said:
” After the considerable growth of last year, this year is more mixed: a modest increase in total assets over a period where funds under management in other funds have declined. While beneath the surface of the overall total, some funds have continued to grow strongly, others have lost assets. We are also seeing the first cases of manager converting existing funds to green or ethical approaches ahead of the proposed new fund labelling regime, while at the same time some existing green or ethical funds being closed or consolidated. In order to solve the increasingly urgent problems the world is currently facing such as climate change, growing inequality and biodiversity loss, we need to see even greater growth in products that truly are part of the solution.”
Contact: Lisa Stonestreet [email protected]
*Please note, this figure is estimated based on funds under management figures of UK domiciled green or ethical retail funds as at the 31st of August 2022. This seeks to avoid money in green or ethical funds domiciled outside of the UK. This is based on information available to the EIRIS Foundation, provided by fund providers or available through research.
About the EIRIS Foundation
The EIRIS Foundation is a research, advice and advocacy charity that seeks to bridge gaps and pioneer the next steps for sustainable finance to advance the vision of a financial system that works for people and planet.
The Foundation has over 30 years’ experience of providing free and objective information on ethical finance and corporate activity to other charities and the public. For more information please visit: www.eirisfoundation.org.
About Good Money Week
Good Money Week (www.goodmoneyweek.com) is a national campaign taking place from 3-7 October 2022 run by the UK Sustainable Investment and Finance Association (UKSIF), which is aimed at promoting sustainability in retail finance and raising awareness of sustainable and responsible financial products and services.