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Ethical investment hits 10bn mark

Ethical investments broke the 10bn barrier for the first time last year, according to Co-operative Financial Services.

It says 10.6bn was placed in ethical investments or deposited with ethical banks and credit unions during 2004.

A total of 5.5bn was invested in ethically screened funds while 5.1bn was deposited in ethical banks and credit unions.

CFS says the findings underline how UK consumers are inc- reasingly aware of ethical funds and the influence they can have as investors.

Last year’s ethical purchasing index, published annually by CFS, found that total ethical consumerism was worth a total of almost 25bn to the UK economy in 2003 – up by 16 per cent on the previous year.

Chief executive David Anderson says: “This a major milestone for the UK’s socially responsible investments sector and underlines how UK consumers are increasingly thinking about how they can have influence as ethical investors.

“It took 15 years for the UK’s SRI market to breach the 5bn mark but just another five years for it to double to over 10bn. All the indications are this accelerated growth will continue.”

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