Social and environmental impacts
The transition to a low-carbon economy is the top priority for savers who want to make a positive difference. Nearly half (47%) said they would like their money to be used to help grow renewable energy, while four out of 10 (41%) wanted to support energy efficiency.
Social and environmental issues continue to be front of mind; when asked about issues facing the UK today, 77% of respondents were worried about a growing elderly population, 75% were worried about the availability and affordability of social housing and 70% were worried about the breakdown of local communities.
Other issues that were causing concern were the regulation of the financial sector (65%), prison reform and young offenders (64%), and the need to shift to a low-carbon economy (56%).
Regulating financial services
Concerns about regulation of the financial services sector continue to run high. Nearly two-thirds (65%) said they were concerned about financial sector regulation.
Seven out of 10 (69%) did not know that there are financial providers that publish how they use the money saved in an ISA.
‘Our mission is to make money work for positive social and environmental change. We lend to organisations that are addressing some of the biggest issues we face today, from care for the elderly like Age Exchange in London, to community renewable projects like Bristol Energy Co-op. We provide customers with a clear link between their savings and the positive difference that they make.’
Head of Retail Banking at Triodos Bank UK
Making a difference
Cash ISAs currently dominate around 80% of the ISA market. With more than £80 billion saved in ISAs last year alone, savings could make a significant difference if people made the choice to save with a provider committed to positive impact.
Triodos Bank offers a full range of ethical Cash ISAs and Stocks and Shares ISAs so that people can take advantage of the full ISA annual allowance of £15,240.
Triodos only lends to organisations generating social, environmental or cultural benefit. Key sectors include social housing, charities and social enterprise, renewable energy, organic food and farming and fair trade.
Click here to find out more about Triodos Bank and who it lends to.