Wealthy Americans Go Green
Thursday, 5th March 2009 at 1:37 pm
In the US Seven in 10 wealthy Americans have socially responsible/green investments according to a survey.
The survey found the majority of wealthy Americans have “green” values, reporting a keen interest in environmental issues and companies that follow a socially responsible path, according to the fifth annual Wealth and Values Survey by PNC Wealth Management.
The survey of 1,263 wealthy Americans, all of whom had at least $500,000 in investable assets, revealed that 71 percent have socially responsible and green investments in their portfolio, while 57 percent say they have up to 25 percent of their portfolio in such investments, while nine percent have between 25-50 percent.
One quarter (25 percent) believe that green investments will gain in 2009.
Bruce Bickel, senior vice president of PNC Wealth Management says while it is not a complete buy-in yet, the results unquestionably show they want part of their investments to be in companies that reflect their own values.
Bickel says there is the also practical view of the environmental sector as a growth area and they want to be on the leading edge.
The survey found that not only are wealthy Americans expressing their concern for the environment on a
macro level, they are walking the talk in their daily lives.
Other findings showed:
– 83 percent recycle at home, and 77 believe that “small lifestyle changes can make an impact on the environment if everyone participates.”
– 56 percent “choose paperless options whenever it is offered.”
– 53 percent says they will consider environmental issues when they renovate or upgrade their home.
– 39 percent “plan to buy a hybrid car.”
– 39 percent say they “do business with companies that have socially responsible corporate initiatives,” while only 15 percent disagree.
The Wealth and Values Survey was commissioned by PNC to identify attitudes about wealth among high-networth individuals, how it affects their lives and their needs in managing wealth. The survey was conducted online in September and October 2008 among a nationwide cross section of 1,263 adults (age 18 or over) with annual incomes of $150,000 or above (if employed), at least $500,000 of investable assets (unless retired) or at least $1 million of investable assets (if retired).
The total sample contains four distinct groups: 583 with assets of $500,000 to $999,999; 492 with assets of $1 million to $4.9 million; 98 with assets of $5 million to $9.9 million; and, 90 with assets of $10 million or more.
For more information go to: www.pnc.com