Consumers Spending Green

A report by Britain’s Co-operative Bank suggests that spending on “ethical goods” in the UK rose by
nearly a sixth to almost £26 billion last year, the UK Times reports. The report looks at spending in 2004 and found that the total value of ethical consumption increased by 15 per cent to £25.8 billion in 2004.

Funds invested ethically exceeded £10 billion for the first
time. Consumers buying items that offset climate change spent £3.4
billion. Spending ethically on food, including Fairtrade items and
organically grown produce, surpassed £4 billion for the first time; and
spending on ethical fashion reached £680 million.

The amount spent on Fairtrade produce increased by 52.2 per
cent to more than £140 million, while £215 million was spent on
free-range eggs — a rise of 14.4 per cent on the previous year.

Consumer awareness of energy efficiency also increased, with
the amount spent on energy-efficient electrical appliances rising by
23.5 per cent to £1.3 billion. Spending on eco-friendly cleaning
products rose to £13 million, from £11 million the previous year.

The Times Article