A new study by British asset management firm Schroders has found that Hong Kong’s Generation X is more concerned about making sustainable investments compared to millennials.
According to the Schroders Global Investor Study (GIS), 63% of Hong Kong Gen X investors (aged 38 to 50 years) assessed sustainability factors while making investment product choices.
The figure dropped to 49% for millennials, which includes respondents from the age group 18-37 years, and to 48% from the baby boomer generation (51 to 70 years).
Overall, around 53% of Hong Kong investors said that they consider sustainability factors while investing.
Additionally, around 58% of Hong Kong Gen Xers cited that their investments could have a direct impact on creating a sustainable world. The figure was found to be significantly ahead of millennials (53%) and baby boomers (37%).
Around 56% of the respondents in Hong Kong agreed that all investment funds should consider sustainability factors. Gen Xers took the lead in this regard as well (63%) followed by baby boomers (59%) and millennials (51%).
Gen Xers were also found to be ahead of the other two demographics on concerns about climate change. Sixty-three percent of the respondents between the age group 38 and 50 opined that climate change is having, or will have, an impact on their investments.
Only 43% among baby boomers and 50% among millennials shared the same feeling.
Schroders global head of stewardship Jessica Ground said: “People might easily assume that it’s always the younger generations who are most concerned about investing sustainably. Our research challenges that assumption.
“Among investors, it is actually Generation X that now shows the most concern.”
The Schroders survey included an opinion from more than 25,000 investors, including 500 from Hong Kong.