Consumers pay more to fight climate change, claims Co-op Bank

The proportion of consumers considering the environmental impact of their purchasing has risen by 11 percentage points to 66%, according the Co-operative Bank's latest annual report on ethical consumerism.1

The report was produced in association with the New Economics Foundation and Future Foundation. It claims that £3.4 billion of spending in 2004 can be attributed to consumers wishing to combat climate change, an annual increase of 21%.

Sales of appliances such as fridges with "A" ratings for energy consumption were up 23% year on year, while investment in micro-generation technology such as solar panels at UK homes rose 314% and is now worth £23 million.

Co-op claims that the results show the public is increasingly willing to tackle climate change, even if it costs more. It says the Government should pursue a bolder legislative agenda, for example, by restricting sales of all household appliances with energy efficiency ratings of C and below.

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