The findings from investment platform Abundance, published in a report entitled ‘Consequences’, indicate that 70 per cent of UK consumers do not want their investments to harm others or the environment – and the range of activities they deem unethical is evolving and growing.

The report highlights a significant disconnect between public desires and the realities of financial services conduct, with 65 per cent considering tax avoidance unethical – despite 98 per cent of FTSE 100 companies engaging in tax avoidance.

“For most of us, there are a series of red lines which we are unwilling to cross in the pursuit of profit when we invest our money,” said Bruce Davis, cofounder and joint managing director of Abundance.

“These latest research findings are very clear on this; the majority of us would be unhappy if our money was invested in a range of unethical activities, from tax avoidance to child labour, pornography to fossil fuel extraction. Yet, the finance industry has been slow to respond to the ethical concerns of its customers, preferring to tell itself that ‘most people’ would prioritise a financial return over ethical consequences.

“The twin bubbles of the City and Canary Wharf have a rarefied view of profit and consequences, reflecting a world that is increasingly investing in itself and is cut off from the attitudes and behaviours of ordinary investors and savers.

“There are signs that some business leaders are starting to respond. But the gap remains vast; there is a long way to go before big business reflects the ethics of the public it serves and the people whose investments own much of it.”

The report accompanies the launch of Abundance’s “Consequences” campaign. As part of a wider series of initiatives, Abundance has confronted the Canary Wharf financial district with a message intended to get the industry thinking about the consequences of money and how it is invested, pictured above.

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