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Laxman Pai, Opalesque Asia: A global study found 77% of millennial investors around the world consider environmental, social and governance concerns are their top priority when considering investment opportunities.
The global poll of 1,125 millennials (people born from the early 1980s to early 2000s), conducted by deVere Group, a British advisory firm, found that ESG concerns topped traditional factors such as anticipated returns (cited as most important by 10% of those polled), past performance (7%), risk tolerance (4%) and tactical allocation (2%) when making investment decisions.
Commenting on the results, deVere CEO and founder, Nigel Green, said: "Millennials appear to be leading the charge in socially responsible and impactful investing. They are keen to look for investment solutions that are progressive and forward-looking.
"As responsible investing becomes increasingly mainstream, and millennials become the major beneficiaries of the transfer of wealth, we can also expect institutional investors, such as pension funds, amongst others, to pile into ESG over the next few years."
Environmental concerns, as defined by deVere, include issues such as climate change policies, carbon footprints and the use of renewable energies. Social issues are such things as workers' rights and protections. Governance issues include executives' compensation, the diversity of corporate boards of directors and corporate transparency.
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