Ethical investment growing

As consumers become more interested in and aware of ethical issues, and climate change in particular, the market for ethical investments is growing, according to the Co-operative Financial Services.

According to the Co-operative Bank, the UK's overall ethical market was worth £32.3 billion per year in 2007, while the Ethical Investment Research Service reported that by December 2007 £8.9 billion had been invested in ethical funds.

Co-operative Financial Services spokesperson Andy Hammerton said: "Last year, ethical finance grew 15%. This is in line with the upward trend in more general ethical consumerism which was up 9%."

And he attributed the growth to an increasing awareness of issues such as labour rights, pollution and recycling, though climate change was the main focus.

Many people want to get involved and invest with a clean conscience, but he added that they should look into their investments carefully if they're managing them personally.

"If selecting a product for themselves, consumers should read up on all the available information to ensure a product is suitable to their financial needs as well as their ethical needs," he concluded.