Wealthy Europeans set to pledge €1 trillion to save the planet
Sustainable investment by wealthy individuals in Europe will top €1 trillion in less than five years time, at the current rate of progress, according to a newly-published report.
This investment will be equivalent to a 12% weighting in their portfolios, compared to the current 8%, it said. The report has been published by the European Sustainable Investment Forum, Bank Sarasin and accounting firm KPMG.
It said investment by the wealthy in this area has already risen to an all-time high. A new generation of investors is particularly keen on the theme, out of concern for damage being done to the environment.
A survey of opinion within the report suggests that 72% of respodents expect an increasing demand for sustaintable opportunities. Around 75% of family offices say that the investment will be speeded up as a result of a generational transfer of wealth. Particular concern relates to climate change issues.
One private banker said: "The switch can happen extraordinarily quickly. I recently had a client who passed away. As soon as his children inherited the money, they told me to switch it all into sustainable strategies."
Clean energy and water represent two of the most popular themes. Fortis Investments has just launched the latest in a long line of clean energy funds, targeting €400m, focusing on wind, solar, biomass and smaller hydro projects.
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