From fashion to finance, an ethical and sustainable revolution is underway that’s giving women the power to feel and do good.
I’m increasingly mindful of how I spend my money. But it’s not because money is scant – even when it has been – it’s because with three girls, I want that money to have a positive impact on the world.
This thinking is what underlies much of the sustainable revolution that’s taking place in fashion as designers rethink materials and who’s making their designs.
But it’s also a trend in finance and has given rise to responsible investing.
It’s approach, which generally offers competitive returns, allows you to invest in companies, financial products or projects to have positive impact on society and the environment.
“Women broadly understand that they can have an impact on the planet through their own consumption and shopping habits but we are also beginning to realise that we can have a greater impact also through the way we invest,” says Leah Willis, Head of Client Relationships, Australian Ethical.
Research by Morgan Stanley found 72 per cent of women compared to 67 per cent of men would prefer to invest in a “responsible” way.
Clare Payne, EY Fellow for Trust and Ethics says the approach is in demand as people grapple with big issues like climate change, inequality and poverty.
“It provides a way for people to make a difference and to ensure they aren’t contributing negatively to the very issues that keep them up at night.”
The easiest way to get access to it is through superannuation. But not all funds are on board, so it’s best to do your research and ask your fund if they offer this kind of option.
Outside of superannuation, Beyond Bank, and Bank Australia offer bank accounts that take a more socially conscious approach.
There are also a variety of Exchange Traded Funds (ETFs) and Managed Funds that offer exposure to sustainable companies and provide positive investments in things like renewables, technology and healthcare.
This Financy article was first published by ELLE and has been republished here with permission.