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The value of overall ethical sales grew up to £38 billion in the UK
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The value of overall ethical sales grew by 8 per cent up to £38 billion, during a period when inflation barely rose above 0.5 per cent, according to the new Ethical Consumer markets report by the magazine Ethical Consumer and Triodos Bank. The Independent explains that, surging sales of green vehicles and solar panels have contributed to the growth of the UK ethical market in 2014, according to the latest figures available in a new survey. For Charles Middleton, Triodos Bank Managing Director, the findings are a sign that UK consumers are still making conscious choices with their money, despite difficult market conditions. Green spending at home rose by 4 per cent with spending on solar panels going up by nearly 25 per cent, according to Ethical consumer.
However, Rob Harrison the editor of Ethical consumer magazine warned that changes in government’s policies such as the heavy cuts to subsidies for rooftop solar panels hitting the green energy sector will make it harder to achieve the same growth next year. “Disappointing changes to government incentives for home renewable energy installations and lower impact motoring in 2015 will threaten the strong growth in sales of lower carbon choices identified in this report,” he said.
The report highlighted the first ever fall of Fairtrade sales since the scheme was launched 20 years ago. The overall sales of ethical food and drink still grew by around 1 per cent in 2014 with a robust 12 per cent growth in sustainable fish sale and an 8 per cent in free range poultry.