Article date: 2 February 2007
Norwich Union research highlights how climate change is becomingan important issue for consumers. The research, conducted by IpsosMORI, shows:
- Around three-quarters (78%) of people want to do more to helplimit the effects of climate change, and six out of 10 (62%) havealready taken action
- More than half (57%) of people surveyed said they areinterested in long-term financial products such as savings, ISAsand pensions where the fund managers choose investments that takeaccount of the impact on climate change – including 11% whoare interested regardless of the effect on their financialreturn
- Two-thirds (66%) of people think financial companies such asinsurance companies and pensions providers should offer productsto limit the effect of climate change
- Two-thirds (67%) of people think financial companies such asinsurance companies and pensions providers should give customersinformation on what they can do to limit the effects of climatechange.
Dr Peter Michaelis, manager of the NorwichUnion UK Ethical fund and Norwich Union Sustainable Future UKGrowth funds, said: “Climate change is a hugely importantissue and barely a day goes by without a leading politician or newsstory highlighting the scale of the problem. This research showshow important an issue it is for consumers and how people are nowwilling to make changes to reduce its impact.
“Climate change has been a key investment theme for NorwichUnion’s Sustainable Future funds for several years. Thesefunds have a lower carbon intensity compared to mainstreambenchmarks. The funds we manage invest in companies that providesolutions for a low carbon future, such as renewable energycompanies or companies that mitigate their own climate changeimpacts. The funds also invest in companies involved in tradingcarbon credits. We believe that this approach ensures ourportfolios are well positioned to benefit from increasingregulation on climate change and changing consumerpreferences.
“People who are concerned about climate change should beaware that their investment decisions can play a significant rolein reducing their own carbon footprint.”
Aviva, Norwich Union’s parent company, announced in December2006 its commitment to become the first insurer to carbonneutralise its operations on a worldwide basis.
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Notes to editors:
About the research
A nationally representative quotasample of 2,074 British adults aged 15+ was interviewed throughoutGreat Britain on the Ipsos MORI Omnibus, across 188constituency-based sampling points. Interviews were carried outusing CAPI (Computer Assisted Personal Interviewing), face-to-facein respondents’ homes between 12 and 16 October 2006. Datahave been weighted to reflect the known national populationprofile
About Norwich Union’s sociallyresponsible investment funds
Norwich Union has sevensocially responsible investment (SRI) funds. The investmentmanagement team is based at Morley Fund Management and is one ofthe largest and most experienced in the UK. The team is lead by DrPeter Michaelis.
Norwich Union’s seven SRI funds are:
- Norwich UK Ethical
- Norwich Sustainable Future Corporate Bond
- Norwich Sustainable Future UK Growth
- Norwich Sustainable Future Absolute Growth
- Norwich Sustainable Future Manager
- Norwich Sustainable Future European Growth
- Norwich Sustainable Future Global Growth
The UK Growth fund has been accredited as a Trucost Low CarbonFund with a Carbon footprint at least 20% lower than the FTSE AllShare benchmark.
1 Trucost Carbon Footprint Ranking of UK Investment Funds’released in June 2006.
About Norwich Union
Norwich Union is the UK’slargest insurer. It is a leading provider of life, pensions andinvestment products and one of the largest financial adviser (FA)providers. FAs provide over 70% of the company's long-term savingsbusiness in the UK.
Norwich Union is the UK’s largest general insurer with amarket share of around 14%, with a focus on insurance forindividuals and small businesses.
Norwich Union’s news releases and a selection of images areavailable from Aviva's internet press centre atwww.aviva.com/media
About Morley Fund Management
Morley Fund ManagementLimited is the UK-based asset management business of Aviva plc.Firms within the Morley group of companies manage £165 billion fromoffices around the world as at 28 February 2006.
Morley manages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retail andinstitutional investment funds for a growing number ofclients.
Further information about Morley Fund Management can be found atwww.morleyfm.com