If millennials are the future, then the future of business is sustainability, according to a report by Morgan Stanley - which shows nearly nine out of ten are interested in sustainable investing.
The bank’s latest Sustainable Signals report surveyed 1,000 active investors on their attitudes to-wards sustainable investment.
The results show that interest in sustainability is continuing to increase year-on-year, especially amongst millennials - 86 per cent of whom describe themselves as “very interested” or “interested” in sustainable investing.
Millennials driving change
Millennials were twice as likely as other respondents to invest in companies that target social or envi-ronmental goals, and had higher confidence that their investment choices could deliver positive im-pacts.
Three quarters believed their investment choices could help to tackle climate change, compared to only 58 per cent of other respondents.
Millennials were also twice as likely to buy goods from sustainable companies.
Sustainability ‘more important than ever’
The research suggests that companies with good sustainability credentials are seen by millennials as more stable and profitable in the long-term.
According to Morgan Stanley, sustainable and responsible investing is now worth nearly $9 trillion worldwide and will continue to grow rapidly.
“As widespread attention to sustainability continues to increase, consumers and investors alike are now more than ever factoring sustainability issues into their investment decisions”, said Audrey Choi, chief sustainability officer and chief marketing officer at Morgan Stanley.
Research also consistently shows that sustainable investments do not require a financial trade-off compared to traditional investing - a mindset that is yet to sink in with the majority of investors.