Socially conscious consumers are looking for financial services providers to offer products that align with their values, and brands are increasingly meeting this demand. As green, ethical and socially responsible concerns become more widely held, ethical financial products are expanding beyond the margins and being offered by mainstream providers.

However, ethical considerations remain secondary to practical ones. This is a barrier to the growth of ethical brands, as the higher cost of producing products and services in a socially responsible manner makes it more difficult to compete on price. While these brands are unlikely to pose a serious challenge to large-scale financial services firms, they can act as an example for the big players, putting pressure on incumbents to place social responsibility at the heart of corporate strategy.

This Report explores green, ethical and socially responsible issues in financial services in the UK. This includes discussion of the main issues affecting the market and a summary of product developments. Mintel’s exclusive consumer research examines the use of ethical current account providers, the types of green, ethical and socially responsible activities carried out by consumers and their consideration of how socially responsible financial services sectors are in relation to other markets. The Report also looks at attitudes towards green, ethical and socially responsible finance, such as interest in ethical investing and barriers to using ethical providers.