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A tripling in the level of British ‘ethical sales’ during the past decade has been announced in research by the Co-operative Bank.
The market for ethical goods such as Fairtrade products, eco-travel and ethical finance in the UK was worth £36billion ($57.6bn, €40bn) in 2008 compared with £13.5bn in 1999, showing a 166 per cent rise in a period in which overall consumer spending increased by 58 per cent.
Fairtrade goods, which were worth around £22million in 1999, were worth £635million last year, and the Co-operative says it expects that during 2010 Fairtrade purchases will break the £1bn barrier for the first time.
Sales of eco-friendly products have also increased substantially since 1999. The trade in energy-efficient electrical appliances and boilers grew about tenfold.
Neville Richardson, chief executive of Co-operative Financial Services, said the growth in energy-efficient products particularly has been ‘underpinned by government intervention’.
The market for ethical goods such as Fairtrade products, eco-travel and ethical finance in the UK was worth £36billion ($57.6bn, €40bn) in 2008 compared with £13.5bn in 1999, showing a 166 per cent rise in a period in which overall consumer spending increased by 58 per cent.
Fairtrade goods, which were worth around £22million in 1999, were worth £635million last year, and the Co-operative says it expects that during 2010 Fairtrade purchases will break the £1bn barrier for the first time.
Sales of eco-friendly products have also increased substantially since 1999. The trade in energy-efficient electrical appliances and boilers grew about tenfold.
Neville Richardson, chief executive of Co-operative Financial Services, said the growth in energy-efficient products particularly has been ‘underpinned by government intervention’.
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