At a tipping point
[[Sustainable 
Investing  
Review 2021]]

Foreword
The world is becoming more aware of the pressing 
issues we face, from economic and social inequalities to 
the catastrophic effects of climate change. While the 
pandemic has heightened these issues, it has given us 
the chance to pause and reassess our priorities.
With growing awareness of these global problems, 
investors recognise they have a responsibility to make 
a difference. This is a key finding in our Sustainable 
Investing Review 2021. Now into its fourth year, this 
annual investor survey shows that sustainable investing  
is at a ‘tipping point’. 
At 81 per cent of the total group surveyed, interest in 
sustainable investing is at an all-time high, as investors 
look beyond returns to positive impact, no longer seeing 
the two as mutually exclusive. They want to use their 
wealth to help solve the pressing challenges faced by  
the world. From improving access to healthcare and 
clean drinking water, to promoting economic inclusion  
for women and addressing climate change, investors are 
on the lookout for opportunities to make a difference.
Overwhelmingly, investors we spoke to – right across 
the wealth spectrum – are either intending to or already 
invest in sustainable investment solutions. We also 
found that the allocation of sustainable investments in 
investor portfolios is on the rise: 13 per cent of investors 
already have more than 25 per cent of total investments 
channelled into sustainable solutions, compared to just  
2 per cent in 2020.
These trends are encouraging. The next step will be seizing 
this fundamental shift in attitudes to make sustainable 
investing a more mainstream investment option.
For some investors, apprehension still prevails: Will I need 
to sacrifice returns for impact? How can I measure the 
impact my wealth is making on the causes I support?  
Is it risky? Should I donate instead? As wealth advisors, 
we have a responsibility to provide the information 
investors need to answer these questions. 
There is increasing evidence that companies with higher 
ESG standards are more likely to perform better in the 
long term, with relatively lower risk to their outlook.  
For an investor, this stronger governance means that  
they can obtain the same return with less risk, along  
with positive impact on the environment and society. 
When it comes to measuring impact, the financial sector 
is working together to develop industry standards that 
will make this easier. And while philanthropy is helpful, 
sustainable investments go further in offering scale and 
long-term benefits.
Our Sustainable Investments Classification framework, 
supported by data from leading ESG and corporate 
governance research and analytics firms, Morningstar 
and Sustainalytics, helps us have more informed 
conversations with our clients and address some of  
their apprehensions. 
We want to be the world’s most sustainable and 
responsible bank and are committed to helping 
our clients make a positive impact on society and 
the environment with their investments. The United 
Nation’s Sustainable Development Goals, which aim 
to tackle pressing global challenges, currently face 
an annual funding gap of USD2.5 trillion. There is a 
massive opportunity to channel private capital through 
sustainable investments to help bridge this gap.
We hope the insights from this research will provide 
a better understanding of how we can ramp up 
sustainable investing and offer investors the advice 
and access they need to progress in their sustainable 
investing journeys. 
Marc Van de Walle
Global Head, Wealth Management
Standard Chartered Bank
3

Executive summary
Standard Chartered’s Sustainable Investing Review  
2021 explores the attitudes and actions of investors 
regarding sustainable investment solutions. 
Featuring key insights from over 2,000 investors across  
the wealth spectrum, the report looks at the adoption  
of sustainable investment solutions and barriers to  
even more widespread adoption.
Building momentum in sustainable investing
Investor apprehensions can be addressed with more 
personalised advice and consultation with financial experts
 
●74 per cent would be more comfortable with sustainable 
investment if they received professional guidance
 
●63 per cent feel they would be better equipped to make 
better decisions after consulting a professional finance 
advisor
 
●46 per cent feel they don’t know enough about 
sustainable investment
Investor apprehensions are holding them back 
Despite good progress along the adoption cycle, half (51 
per cent) of investors have some lingering apprehensions 
 
●Transparency of the impact of sustainable investing: 
69 per cent need more numerical evidence of the 
impact being achieved from sustainable investments
 
●The shock of the new: 51 per cent feel sustainable 
investing is simply too new
 
●The direct donation alternative: 43 per cent believe 
donations can achieve a more immediate social 
outcome
Investors want to create wealth and also do good 
with it
The responsibility of wealth
72 per cent of investors believe they have a responsibility 
to make the world a better place
Dual priorities for wealth
75 per cent believe it is possible to do good and make 
money at the same time
Sustainable investing is at a tipping point to mass adoption
The four stages of the adoption cycle
82%
81%
 Awareness
 Intention
 Interest
 Adoption
40%
61%
of investors know 
what sustainable 
investing is
show interest in 
sustainable investing,  
with only two per cent 
showing no interest at all
have not yet invested in 
sustainable solutions, but plan 
to in the future. One fifth (20 
per cent) of investors intending 
to have invested over 20 
per cent of their portfolio in 
sustainable solutions over the 
next three years
have already invested in 
sustainable investments 
compared to 54 per cent 
in 2020
5
4

Introduction
Sustainable investing, when incorporated into a  
well-defined, long-term investment plan, can be a 
powerful tool to address some of the world’s most 
pressing challenges from climate change to social  
justice, while allowing investors to achieve their personal 
financial goals.
Investments qualify as sustainable when they are placed 
in businesses, funds or other financial instruments that 
meet dual objectives of generating financial returns while 
also making a positive impact. Sustainable investing 
creates not only long-term opportunities for real change 
in society but has been shown to also create long-term 
opportunities for financial gain. Sustainable investments 
are gathering momentum, with a range of options 
available, including mutual funds, exchange traded  
funds and bonds.
Standard Chartered surveyed more than 2,000 investors 
across the wealth spectrum from Mainland China, 
Taiwan, Hong Kong, Singapore, India, UAE and UK, to 
gauge the adoption of sustainable investment solutions 
in key markets and uncover the potential reasons for why 
some investors are holding back.
We found that awareness of, interest in, and willingness 
to invest in sustainable solutions indicate that the 
investment industry is at a tipping point. The next step is 
widespread adoption. As sustainable investing becomes 
more mainstream, returns on investment and the wider 
benefits to society that sustainable investing brings will 
provide further impetus to the market. Financial advisors 
have a crucial role to play in helping investors overcome 
their remaining apprehensions, to deliver the full  
benefits of sustainable investing to individuals and  
the global economy. 
The tipping point: an opportunity to build momentum
Our survey revealed that 13 per cent of investors already 
have more than a quarter of their of total investments 
channelled into sustainable solutions, compared to just  
2 per cent in 2020.
This is supported by trends within the sustainable 
investing market. For example, according to data from 
investment research company Morningstar, flows into 
European ESG ETFs (exchange-traded funds) totalled 
EUR27 billion in the first quarter of 2021, which was more 
than four times the flows recorded for the same period 
in 2020 and represented 51 per cent of overall European 
fund flows.
The Covid-19 pandemic demonstrated the resilience of 
ESG solutions in terms of performance. In the first year 
of the pandemic, large funds with ESG characteristics 
outperformed the broader market, according to a report 
published in April 2021 by analysts S&P Global. S&P’s 
analysis included 26 ESG exchange-traded funds and 
mutual funds with more than USD250 million in assets 
under management. From March 5, 2020, to March 5, 
2021, 19 of the funds grew between 27.3-55 per cent, 
outpacing the S&P 500 index’s 27.1 per cent rise.
At Standard Chartered we believe driving greater 
adoption of sustainable investments creates benefits on 
two levels – the potential for society in helping to solve 
the most pressing challenges faced, and for investors in 
terms of risk management, long-term financial return 
and portfolio diversification.
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6

It is now crucial to promote more sustainable practices 
concerning supply chain management, labour 
policies, environmental impacts, as we tackle pressing 
global challenges. This requires significant funding 
and investment. For example, the UN Sustainable 
Development Goals (SDGs) currently face an annual 
funding gap of USD2.54 trillion. There is an opportunity 
for the investment community to play a pivotal role in 
closing this gap, alongside governments and businesses.
Along with significant positive impact on society and 
the environment, sustainable investments also provide 
a range of financially focused opportunities for investors. 
For example, the opportunity to achieve returns 
from taking a thematic approach to investment by 
capitalising on trends such as the energy transition  
or the circular economy. 
To assess the momentum around sustainable  
investment adoption, our research explored a  
four-stage adoption cycle:
Investors are highly  
aware of sustainable 
investments and  
related concepts
High levels of interest  
in sustainable  
investment driven  
by a ‘do good while 
making money’ attitude
A sense of the responsibility 
to do good with wealth is 
driving increased intention 
to invest in sustainable 
solutions
An increasing number  
of investors are adopting 
sustainable solutions, 
across a range  
of causes
Do you know what 
sustainable investing is? 
In general, how  
interested in sustainable 
investing are you? 
I intend to invest 
sustainably, but not yet.
Have you ever invested  
in a sustainable 
investment?
Awareness
Interest
Intention
Adoption
82%
81%
40%
61%
Awareness – Investors demonstrate knowledge 
of sustainable investment solutions and some 
understanding of their purpose and benefits
Interest – Investors find sustainable investments are 
appealing, with enough interest to research and discuss 
options in more detail
Intention – Investors at this stage intend to invest, 
have enough knowledge and are at peak interest in 
sustainable investment solutions, but have not placed 
any money yet
Adoption – Investors place their funds in a sustainable 
investment option, once they overcome their barriers
Our research shows high levels of awareness,  
interest, intent and growing adoption of sustainable 
investment solutions.
Trends across the adoption cycle
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8
INTRODUCTION

Stage 1: Awareness
Do you know  
what sustainable  
investing is?
82%
Yes
Are you familiar with the  
UN Sustainable Development 
Goals (SDGs)?
63%
Yes
Are you familiar with the  
UN Principles for Responsible 
Investment (PRI)
57%
Yes
Awareness of sustainable  
investing is high
Investors continued to show high levels of knowledge 
about sustainable investments. Overall the majority 
of investors (82 per cent) are aware of sustainable 
investments.
In addition, 63 per cent of investors are familiar with the 
UN Sustainable Development Goals (SDGs), which set 
out to improve health and education, reduce inequality, 
and spur economic growth while tackling climate change 
and working to preserve oceans and forests, by 2023. 
More than half (57 per cent) are aware of the UN 
Principles for Responsible Investment, a set of six 
principles developed by investors that offer a menu of 
possible actions investors can take to incorporate ESG 
issues into investment practice.
However, with 46 per cent of investors surveyed believing 
they do not know enough about sustainable investing, 
boosting levels of knowledge and experience in 
sustainable investing among investors could further  
ramp up adoption.
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10

Not at all
In general, how interested in sustainable investing are you?
Extremely
23%
32%
26%
12%
4%
1%
2%
1 2 3
4
5
6
7
Stage 2: Interest
Investors are highly interested  
in the ability to make impact  
along with financial gains
Investors displayed a consistent level of interest in 
sustainable investing compared to 2020, with an 
overwhelming majority (81 per cent) saying they are 
interested in the concept. Almost a quarter (23 per  
cent) are ‘extremely interested’, up from 16 per cent  
the year before. 
Encouragingly, there are very few investors not open  
to sustainable investments, with only 2 per cent not  
at all interested.
Strong investor interest is reflective of the realisation  
that financial and non-financial returns can co-exist.  
For example, 75 per cent of our investor respondents  
believe it is possible to do good and make money at 
the same time. Further, only 41 per cent believe that 
monetary returns alone is the best measure of the 
success of their investment.
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12
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Stage 3: Intention
Increased intention to invest in 
sustainable solutions is driven  
by a sense of responsibility
What percentage of your total funds available for investment would you like to have invested in 
sustainable investments in the next 3 years?
17%
14%
Less than 5%
42%
34%
5% to <15%
32%
32%
15% to <25%
9%
20%
25% or more
2020
2021
Affluent investors have a growing sense of responsibility that is driving up 
their intent to invest in sustainable solutions
of investors intend to seek investments in 
organisations that demonstrate positive  
ESG practices
would prefer to avoid investing in organisations 
that have poor ESG practices
would prefer to invest in organisations that are not 
just ethical in how they conduct themselves but do 
additional good in the world
would prefer to avoid unethical investments
68%
72%
70%
76%
Across the wealth spectrum, investors widely believe  
that they have a responsibility to do good with their 
wealth. Among the investors surveyed, 72 per cent  
agree they have a responsibility to help make the world  
a better place.
65 per cent of respondents believe it is important to 
create a positive legacy with their wealth and believe 
they can meet these responsibilities via the investment 
choices they make.
The increasing intent to do good is building corresponding 
momentum in the intent to invest in sustainable solutions. 
In 2020, just nine per cent of investors intended to invest 
more than a quarter of their total portfolios in sustainable 
investment solutions. By 2021, this had increased 
significantly to 20 per cent of investors.
15
14

The high levels of awareness, interest and intention has 
resulted in continued growth in the number of investors 
taking the final step and adopting sustainable investing.
The growth in sustainable investing visible in the wider 
world is reflected in our survey: in 2020, 54 per cent 
of investors had already made an investment in a 
sustainable solution, in 2021 that figure has grown  
to 61 per cent of investors. 
With sustainable approaches becoming a preference 
for investors – 72 per cent are preferring to invest in 
organisations that are not just ethical, but seek to do 
additional good in the world. We expect the number of 
investors who plan to adopt sustainable investments to 
further increase.
Stage 4: Adoption
Intent is turning to action, with more 
investors adopting sustainable 
investment solutions
Have you ever invested in a sustainable 
investment? Per cent ‘Yes’
202054%
I would prefer to invest in organisations that are 
not just ethical but seek to do additional good in 
the world
The trend is already apparent, with 13 per cent 
committing a quarter or more of their total investment 
funds to sustainable solutions, compared to just two  
per cent in 2020. 
What percentage of your total funds available for investment is currently invested in  
sustainable investment?
7%
8%
Less than 5%
57%
45%
5% to <15%
34%
34%
15% to <25%
2%
13%
25% or more
2020
2021
202161%
72%
agree or strongly 
agree
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17

Sustainable investing is making progress. However, 
investor concerns, while exhibiting a downward trend,  
still remain. More than half (51 per cent) of investors 
remain apprehensive about placing their funds in 
sustainable solutions, compared with 61 per cent in 2020. 
Crossing the  
tipping point
Investor concerns holding  
back wider adoption of  
sustainable investments
How apprehensive would you be about making a sustainable investment (Per cent 5-7 out of 7)
202151%
202061%
How apprehensive would you be about making a sustainable investment?
Not at all
Extremely
1
2
3
4
5
9%
19%
23%
25%
13%
8%
3%
6
7
Only three per cent of investors have no apprehensions 
at all when it comes to sustainable investing. This stems 
from increased familiarity with the world of sustainable 
investing, and the desire to balance doing good 
with further wealth generation – an ongoing process 
of normalisation. But clearly some doubts remain, 
preventing mass adoption.
There are several reasons why many investors remain 
apprehensive about placing funds in sustainable 
investment solutions: financial trade-offs, ‘newness’ of 
products, the alternative of direct donations, and a lack 
of transparency about the impact of social investing.  
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19

Financial trade-offs 
When it comes to sustainable investments, some 
investors still hold that solutions that do good in the 
world come at the cost of investment returns. For 
example, almost half (47 per cent) of investors said  
they have concerns about the financial performance  
of sustainable investments.
The shock of the new
Some levels of apprehension about sustainable investing 
are simply due to the approach being too new. While 
socially responsible investing dates back to the early 
1970s, it has evolved and accelerated during the past 
decade. For 53 per cent of investors we surveyed, 
sustainable investing is seen as simply ‘too new’, with  
51 per cent feeling there are too few sustainable 
investment options currently available.
The direct donation alternative
Some investors believe direct donations to causes and 
charities provide a greater reach and more positive and 
immediate social impact than sustainable investment. 
Investors (32 per cent) said they would prefer to donate 
to charities, while 43 per cent feel donations can achieve 
a more immediate social outcome. Nearly half (49 per 
cent) view donations as a way to support a wider range 
of causes than they think are available via sustainable 
investment products.
Transparency of the impact of social investing
Traditional investments provide defined, clear and 
numerical evidence of their return and benefit, albeit 
often only financial, to their investors. This information 
is provided by an industry of ratings agencies, analysts 
and consultancies that produce well-researched and 
established intelligence reports into financial products. 
In contrast, the development of effective measurements 
and ratings has been slow to take off in the world of 
sustainable investing. The inconsistent and patchy nature 
of data has created apprehension among investors 
about the actual impact of their investments. To increase 
adoption, investors need more standardised and clearly 
measurable outcomes.
Investors need transparent, validated proof of the impact of their investments
69%
of investors demand more quantitative, numerical 
evidence of social impact achieved before they 
would invest
65%
would require independent, third-party validation 
of impacts
69%
would also need specific stories and real-life 
examples of social impacts in action before they 
could be convinced to invest
57%
of investors have concerns about the lack of clarity 
in reporting the social outcomes being achieved 
via sustainable investing
Investor apprehensions
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21
CROSSING THE TIPPING POINT

Ramping up adoption – 
expert advice is key 
Most affluent individuals are experienced and successful 
investors, able to spot the next opportunity, often helped 
by the advice of professionals. 
In the relatively new and different world of sustainable 
investing, professional guidance is invaluable – 74 per 
cent of investors say they would gain a heightened level 
of comfort with sustainable investment if they received 
professional guidance on their decisions.
Further, 63 per cent believe that they would be equipped 
to make better decisions after consulting a professional 
financial advisor and regardless of outcome, 68 per  
cent would feel better about the future performance  
of their investments if they used a professional 
investment service.
Investment advisors have a crucial role to play in the 
adoption of sustainable investing, largely because 
they are trusted by their clients to identify which of the 
increasingly large pool of options are the most suitable  
for their needs.
74%
of investors say they would 
gain more comfort with 
sustainable investment if they 
received professional guidance
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22

Market Checkpoints
Mainland China
There is a strong desire from investors in China to ensure that their wealth 
is contributing to funding organisations that intend to do good, and not to 
simply make a financial return.
For example, 79 per cent of investors in China, compared to 68 per cent of 
investors across all markets, proactively seek investments in organisations 
with positive ESG practices, with 82 per cent, compared to 72 per cent in  
total, having a preference for organisations that are not just ethical, but  
seek to do additional good in the world.
Investors in China are focused on sustainability, with 81 per cent looking  
to invest in organisations with active sustainability agendas, compared  
to 70 per cent of the total group of investors surveyed.
Unsurprisingly, 92 per cent of investors in China are highly interested in the 
potential of sustainable investments.
Investors in China see sustainable investments as financially attractive,  
with 77 per cent believing they will outperform traditional investments  
in the long term, compared to 59 per cent of investors across all 
markets.
These attitudes and sentiments are being backed up with action,  
with 74 per cent ofinvestors in China having already placed funds in 
sustainable investment solutions, compared to 61 per cent of all  
investors surveyed.
With only a third (31 per cent) of investors in China holding some 
apprehensions about sustainable investments, compared to half (51 per  
cent) of investors overall, the Chinese sustainable investment market  
appears to be very close to mass adoption.
2021
Global
Mainland 
China
Taiwan
Hong  
Kong
Singapore
India
UAE
UK
Do you know 
what sustainable 
investing is?  
Per cent Yes
82%
92%
74%
79%
71%
83%
88%
100%
In general, how 
interested in 
sustainable 
investing are you? 
Per cent 5-7 out of 7
81%
92%
78%
73%
73%
85%
80%
90%
I intend to invest 
sustainably,  
but not yet.  
Per cent Agree + 
Strongly Agree
40%
33%
38%
43%
38%
41%
40%
55%
Have you ever 
invested in a 
sustainable 
investment?  
Per cent Yes
61%
74%
57%
51%
46%
68%
57%
94%
How apprehensive 
would you be 
about making 
a sustainable 
investment?  
Per cent 5-7 out of 7
51%
31%
41%
45%
53%
71%
56%
74%
Investor attitudes to legacy and responsibility differ in 
different markets, as do their attitudes and intent when 
it comes to sustainable investing solutions. To explore 
the situation in the markets included in our research, this 
report features a series of market checkpoints, providing 
a summary of the current state of play for sustainable 
investing in Mainland China, Taiwan, Hong Kong, 
Singapore, India, UAE and the United Kingdom.
Progress reports on the attitudes 
and actions on sustainable investing
With positive 
attitudes and 
sentiments backed 
up with action, 
sustainable 
investments may 
already be at 
mass adoption for 
investors in China
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25
MARKET CHECKPOINT

Taiwan
Hong Kong
The sentiment towards, and adoption rates of, sustainable investment 
solutions for investors in Hong Kong are similar to those in other markets  
we surveyed.
There are, however, less investors interested in sustainable investing  
(73 per cent compared to 81 per cent of the total group of investors) and less 
investment into sustainable solutions (51 per cent compared to 61 per cent of 
the total group of investors).
Investors have different attitudes to legacy and sustainability, compared to 
other markets. For example, fewer investors in Hong Kong, 56 per cent, would 
like to invest in organisations that actively pursue greater sustainability, 
compared to 70 per cent across the markets we surveyed.
What legacy means differs for some investors in Hong Kong, with 49 per  
cent feeling it is important to leave a positive legacy, compared to 65  
per cent overall.
These differences mean that the Hong Kong market is close to, but still 
slightly behind reaching sustainable investment adoption compared  
to other markets.
54 per cent of investors in Hong Kong feel that they don’t know enough about 
sustainable investing, compared to 46 per cent across all markets. Improving 
knowledge will be an important way to influence the attitude of investors 
in Hong Kong willing to sell existing investments to move into sustainable 
solutions, and encourage more to invest cash savings in sustainable options.
Concerns about adopting sustainable investing in Taiwan relate to  
both attitudes to legacy, and the investment risk appetites of investors 
in this market.
For example, leaving a positive legacy is important to 44 per cent of  
investors in Taiwan, compared to 65 per cent of the total group of investors 
we surveyed. Similarly, 38 per cent of investors in Taiwan care about what 
future generations think of them, compared to over half (57 per cent) of  
the overall group. 
The risk appetite of investors in Taiwan is also a concern. At 40 per cent, 
fewer investors in Taiwan are willing to take a greater financial risk for 
positive impact, compared to 53 per cent for the total group surveyed.
Investors in Taiwan are also less likely to want to lock up parts of their 
investment portfolios for longer periods in return for greater social benefits.
Investors in Taiwan appear more risk averse than other markets, with 38  
per cent feeling they are prepared to take more investment risk than others, 
compared to half of the total group of investors.
Within the context of Taiwanese views on legacy and risk, it is therefore 
a market which is less likely to sell existing investments to move into more 
sustainable options (33 per cent in Taiwan compared to 48 per cent overall) 
and less likely to be encouraged to shift cash into sustainable investing 
options (48 per cent in Taiwan compared to 62 per cent overall).
However, Taiwan may be closer to a mass adoption tipping point compared 
to other markets, with less investors in Taiwan (41 per cent) feeling 
apprehensive about sustainable investing, compared to more than 
half (51 per cent) of the total sample of investors we asked.
Finding sustainable investing solutions that don’t imply or involve greater 
investment risk, combined with changing views on what legacy means will 
therefore be key steps on the path to widespread adoption in the Taiwanese 
investment market.
Hong Kong is on 
a similar adoption 
path for sustainable 
investing as 
other markets, 
but is potentially 
being held up 
by differences in 
views on legacy 
and understanding 
of sustainable 
investing
Despite little 
apprehension 
about sustainable 
investing, Taiwan’s 
views on legacy 
and attitudes to 
investment risk 
appetite appear to 
stand in the way of 
more widespread 
adoption
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27
MARKET CHECKPOINT
MARKET CHECKPOINT

India
Singapore
Across the sustainable investing life cycle of awareness, interest, intent, and 
finally adoption, investors in India almost mirror the attitudes and actions of 
the investors across all the markets we surveyed.
For example, 83 per cent awareness in India compares to 82 per cent overall, 
with interest levels at 85 per cent compared to 81 per cent. Further, intent is 
similar to the overall investor group we surveyed at 41 per cent compared to 
40 per cent.
Adoption, or those in India who have actually invested in a sustainable 
investment solution, is slightly ahead of the overall group, at 68 per cent 
compared to 61 per cent.
However, 71 per cent of investors in India feel apprehensive about sustainable 
investments compared to 51 per cent overall, with 22 per cent feeling 
extremely apprehensive compared to just nine per cent overall.
Apprehensions do not appear to be driven by concerns about a social good 
versus financial return trade off, as 67 per cent of investors in India would  
take greater financial risks to gain social benefits, compared to 53 per cent  
of investors overall.
The apprehensions that need to be overcome in the minds of investors in 
India are related to the range of sustainable investment options available.
62 per cent of Indian respondents feel there is limited availability of 
sustainable investment options, compared to 51 per cent of the total investors 
surveyed.
India appears to be a market with demand going unmet. In fact, 60 per 
cent of investors in India would sell existing investments to move to more 
sustainable options, compared to 48 per cent of the total investors surveyed.
In India, accelerating the adoption of sustainable investing may simply be 
about meeting demand with a wider range of suitable solutions.
Awareness of sustainable investing amongst investors in Singapore is the 
lowest of the seven markets surveyed, at 71 per cent compared to 82 per  
cent across all included markets.
Combined with lower interest levels (73 per cent) and intention to invest 
in sustainable investments (38 per cent) compared to other markets, it 
follows that just 46 per cent of investors in Singapore have actually made 
investments in sustainable solutions.
Low adoption rates do not appear to be due to the attitudes of investors in 
Singapore feeling they have a responsibility to make the world a better place 
(69 per cent believe this to be the case), or believing that it is possible to do 
good and make money at the same time (76 per cent).
Rather, apprehensions hindering the translation of desire to do good into 
actual investments appear to be a lack of supporting evidence on both the 
social and financial benefits of these solutions.
For example, 61 per cent of investors in Singapore feel that social impact is 
difficult to measure, compared with more than half (52 per cent) of investors 
across all the markets in our survey. 
Connected to the difficultly of measuring success, investors in Singapore 
are also more likely to be concerned about the lack of clarity in how social 
outcomes are achieved and reported compared to investors in other markets.
56 per cent of investors in Singapore have concerns about the financial 
performance of sustainable investments, compared to 47 per cent across 
included markets. 
Investors in Singapore also have doubts about long-term financial benefits, 
with just 47 per cent believing sustainable investments will outperform 
traditional investments over the long term, compared to 59 per cent across  
all included markets.
With strong beliefs in the need to do good and the role of money in creating 
change, sustainable investment in Singapore can become more widespread 
when providers can better evidence that social impact can co-exist with 
financial benefits.
High levels of 
apprehension in 
India could be less 
about attitudes 
towards sustainable 
investing solutions, 
and more about 
a lack of suitable 
options
A drive to do good 
exists, but doubts  
about the real 
social and financial 
benefits inhibit 
sustainable 
investment adoption 
28
SECTION TITLE
29
MARKET CHECKPOINT
MARKET CHECKPOINT

UAE
The United Kingdom
Investors in the UK report very high levels of awareness about sustainable 
investing, with 100 per cent of respondents knowing about these solutions, 
compared to 82 per cent when looking at awareness across all markets.
High levels of awareness have translated into action for investors in the UK, 
with 94 per cent having already invested in sustainable solutions previously, 
compared to 61 per cent across all markets.
However, maintaining these strong levels of interest and investment may 
be more challenging, with 74 per cent apprehensive about sustainable 
investments compared to 51 per cent across all markets. 
For example, investors in the UK prefer to donate directly to the causes 
they care about, rather than contribute via sustainable investments (56 per 
cent in the UK compared to 32 per cent of respondents across all markets). 
Furthermore, 65 per cent of investors in the UK believe direct donations have 
greater positive social impact than sustainable investing.
The causes sustainable investing solutions contribute to are perceived to be 
more limiting than direct contributions for 65 per cent of investors in the UK, 
compared to 49 per cent of investors across all markets surveyed.
Wider adoption in the UK may come from a realisation that selecting 
sustainable investment solutions doesn’t mean that ongoing direct  
charitable donations can’t continue – both can play a significant role in 
contributing to solving the most pressing problems faced by communities 
within the UK and beyond.
While the majority 
of investors in the UK 
are already involved 
in sustainable 
investing, significant 
apprehension 
remains about how 
best to support 
causes that matter
The current stage of the sustainable investment adoption cycle for the UAE 
is similar to that of the overall group with similar levels of awareness, interest, 
intent, and investments being made.
Apprehension rates, and views that sustainable investments can do good, 
and provide a financial return, are also similar. 56 per cent of investors in the 
UAE are apprehensive about sustainable investments compared to 51 per 
cent overall, with 78 per cent believing it is possible to do good and make 
money at the same time, compared to 75 per cent overall.
However, what may result in investors in the UAE overtaking other markets’ 
levels of sustainable investing adoption might be related to stronger 
attitudes towards leaving a legacy.
There is a heightened desire to leave a positive legacy in the UAE compared 
to our overall group of investors, with 74 per cent of investors in the UAE 
feeling this is important compared to 65 per cent overall.
Further, perceptions of the next generation within UAE society have greater 
importance than in other markets. 74 per cent of investors in the UAE care 
about what future generations think of them, compared to 57 per cent of  
the total group of investors included in our research.
And with 70 per cent of investors in the UAE preferring investments with a 
good story, the key to wider adoption of sustainable investments may lie 
in creating compelling stories about the positive social and environmental 
outcomes for the next generation.
While the UAE is 
at a similar stage 
of the adoption 
cycle to other 
countries, driving 
more adoption lies 
in being able to tell 
compelling stories 
about the legacies 
sustainable investing 
can help create
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31
MARKET CHECKPOINT
MARKET CHECKPOINT

Conclusion
As the global economy navigates a new normal following 
the Covid-19 pandemic, the idea of a more sustainable 
world economy is taking hold. Investors recognise that 
with wealth comes responsibility and are keen to do 
good with their funds while also making profit. They 
recognise the ability of sustainable investing to achieve 
their ambitions but are at varying stages of adoption 
and apprehension.
We see sustainable investing at a tipping point: financial 
institutions and advisors can be instrumental in providing 
investors with the information and access they need to 
progress in their sustainable investing journey.
By helping connect capital to avenues where it can 
make the most impact, while delivering financial returns, 
we can collectively build back better and create more 
prosperous societies.
Methodology
Standard Chartered commissioned Agility Research & 
Strategy to conduct on-the-ground research between  
20 May and 6 June 2021, and behavioural finance 
experts, Oxford Risk, to perform data analysis of the 
research findings.
Respondents in 2021 included 2,040 investors from a 
range of wealth profiles located in Mainland China, 
Taiwan, Hong Kong, Singapore, India, UAE and the 
United Kingdom.
The survey used robust behavioural and attitudinal 
techniques and was the same for each respondent,  
save for the order of statements, which were  
randomised to ensure academically reliable results.
Throughout the survey we asked respondents to consider 
the following definition of ‘sustainable investments’:
 
●Sustainable investing is investing capital in businesses, 
funds or other financial vehicles that actively seek to 
generate not only financial returns but also social and/
or environmental benefits. Sustainable investing is 
distinct from charities or philanthropy in that it seeks  
to generate a financial return.
 
●Respondents in 2020 included 1,085 investors from the 
UK, UAE, Singapore, and Hong Kong.
Standard Chartered commissioned specialised financial services client engagement consultancy, 
Ideas and Action, to draw key insights from the research and prepare the content for this report.
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33

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35
DISCLOSURES
DISCLOSURES