Ethical Consumers on the Rise: Green Pound and Boycotts Soar
- Ethical spending reached a record high of £122bn in 2021
- UK’s ‘green pound’ soared over the period
- Brand boycotts on ethical grounds rose by 18% to almost £4bn
In 2021, ethical spending in the UK hit a record high, surpassing £100bn for the first time, with a total of £122bn. The Co-Op’s data reveals that consumers are increasingly making conscious choices and boycotting brands on ethical grounds, leading to an 18% increase in brand boycotts almost reaching £4bn.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the increase in ethical spending in the UK, citing a source (Co-Op) for its data. It is concise and does not contain any digressions or irrelevant details. However, it could benefit from more context or explanation of what constitutes ‘ethical spending’.
Noise Level: 7
Noise Justification: The article provides relevant information about the increase in ethical spending in the UK but lacks depth and analysis. It could benefit from exploring the reasons behind this trend and its potential impact on society or the economy.
Financial Relevance: Yes
Financial Markets Impacted: The increase in ethical spending may impact companies that focus on sustainability and social responsibility as consumers become more conscious of their choices.
Financial Rating Justification: This article discusses the financial aspect of consumer behavior, specifically the growth of ethical spending in the UK, which can have an impact on various industries and companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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