Is Bristol in danger of losing our status as green capital of Britain?

Research shows that the Coronavirus pandemic has shifted opinion across a wide range of issues. From attitudes about geopolitics and perceptions of technology to increased awareness about the living conditions of others. Against this backdrop of change, at Anderson Financial Management we wanted to better understand how the pandemic might have shifted attitudes towards personal finance. Particularly in the area of environmental, social and governance (ESG) investing. 

To find out, we commissioned a survey of over 2,000 people who were asked about their financial behaviour, decision making and attitudes – now and pre-pandemic.[1] And it’s fair to say that we found some of the results surprising. The research indicates that priorities may have shifted in Bristol, a city renowned for our green credentials, from care for the planet to caring for each other and our community.

Ethical Bristol 

Ethics, quite rightly, has move up the agenda and into the public eye during Coronavirus. Most likely as a result of some shocking stories in the media about poor ethical practices. And we weren’t surprised that our survey showed the importance of ethical saving and investment is significantly higher in Bristol than the rest of the country. 

Bristolians place importance on issues such as diversity & inclusion, and fair treatment of staff and suppliers, when making decisions about what to do with their money. What’s more, the importance of ethical saving and investment also increased significantly amongst Bristolians between January and August 2020:

• 52% of Bristolians said that in January 2020 good ethics was important to them when making decisions about saving and investing their money. This number rose to 63% – an 11% increase – in August 2020.
• Nationally, just 40% of people said that good ethics was important to them when making decisions about their savings and investments in January 2020. This rose to 43% nationally in August 2020 – a smaller increase and still 20% below Bristolians.

To be the first to hear more about how the pandemic has changed attitudes towards personal finance, follow Anderson Financial Management on LinkedIn.

Sustainable Bristol 

When it comes to our home city of Bristol, we’re proud to be part of a community that takes the lead when it comes to living sustainably and protecting the environment. But surprisingly, our research showed a decrease in the importance that Bristolians place on sustainable finance in 2020. Indicating that sustainability may have fallen down the agenda in Bristol as a result of the Coronavirus pandemic:

• 54% of Bristolians said that sustainability was important to them when making decisions about their finances in January 2020.
• when asked whether sustainable saving and investment was still important in August 2020 this number dropped to 51%. 

What’s more, other cities are catching up and overtaking fast. In August 2020, 55% of people in Milton Keynes, 52% of people in Southampton and 51% of people in Birmingham all said that sustainable saving and investment was important to them. The important message here is that yes, we are green in Bristol, and should be proud of our stance, but we shouldn’t take our eye off the ball.

Sustainable vs Ethical?

Equally important is the message that we don’t need to choose between sustainability and ethics when it comes to making decisions about out money. The team here at Anderson Financial Management are passionate about ESG investing. With our knowledge of this growing investment class, we’re keen to reassure Bristolians that ethical and sustainable investments are not mutually exclusive. 

For more information about sustainable and ethical investing visit www.andersonfinancial.co.uk. Or get in touch with us for a confidential conversation at [email protected] or call 0117 332 1570.

[1] 2,000 people from a GB nationally representative sample, with sub-samples for the South West & Bristol, were asked about their (financial) consumer behaviour, decision making and attitudes. Now and retrospective (pre-pandemic). Mid-week omnibus (by Populus) with fieldwork taking place on the 26th and 27th August 2020.