Even with the economy down, business owners continue to be optimistic about giving to environmental causes, according to a survey released by SunTrust Bank Private Wealth Management. The survey found that 69 percent of business owners claimed, “Even if there is an economic downturn that moderately affects my business, I plan to maintain my current level of giving to environmental causes in the coming year.”
The study surveyed more than 200 business owners with at least $10 million in annual revenue about their outlook on “green” giving and investing. Most respondents believed it is a “good” or “average” time to invest in mutual funds or other financial instruments that are specifically marketed as “green” or environmentally responsible. In addition, 40 percent of respondents believe it is a “good time” for all businesses to adhere to the highest possible environmental standards.
However, the survey had some caveats: while attitudes and preferences toward green investing remain strong, most business owners had neither invested personal money nor business money in mutual funds or financial instruments marketed as “green” or environmentally responsible. Only 31 percent had invested personally this way and only 28 percent had allocated business funds to these investments. But nearly half of the business owners donated personal money to organizations devoted to helping the environment, such as the Sierra Club, the Audubon Society, the Wilderness Society or some other such organization.