• Sun. Sep 25th, 2022

Most women see money as a tool to effect change, survey shows

Most women see money as a tool to effect change, survey shows


Over the past couple of years, the effects of Covid-19, social activism and economic uncertainty have profoundly impacted women’s attitudes about their finances, according to a UBS survey.

Nearly 9 in 10 women believe money is a tool to achieve their personal “purpose,” the report uncovered, polling 1,400 women investors in January and February 2022.

“Many women have a deeper commitment than ever before to leading more purposeful, intentional lives and making a positive difference in the world,” said Carey Shuffman, head of the women’s segment for UBS. 

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“And we saw that women wanted to do that through a variety of different ways, many of which came back down to financial engagement and wielding financial power,” Shuffman said.

Indeed, nearly 95% of the women polled have donated financial resources or time over the past 12 months, according to the findings, and almost three-quarters have made purchases linked with their values. 

What’s more, most women want portfolios reflecting their values, the survey found, with 79% saying they’d like assets focused on positive environmental, social and governance impact, known as ESG. 

There’s a very clear correlation between wanting to use money to affect positive change, and then investing your money to align with those values.

Carey Shuffman

Head of the women’s segment for UBS

“There’s a very clear correlation between wanting to use money to effect positive change, and then investing your money to align with those values,” Shuffman said.

These findings are similar to a poll by Cerulli Associates showing roughly 52% of women prefer to invest in companies with a positive social or environmental impact, compared to 44% of men.

However, despite high levels of interest, adoption has been lower, with only 47% of women owning ESG investments, the UBS survey found.

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Image and article originally from www.cnbc.com. Read the original article here.