Financial Literacy in the Age of Green Investment*

Evaluating behaviorally motivated policy: experimental evidence from the lightbulb market

Anders Anderson and David Robinson

Review of Finance, 2022, vol. 26, issue 6, 1551-1584

Abstract: We survey a large sample of Swedish households and connect the responses to administrative data to relate pro-environmental attitudes and values to actual investment decisions. Pro-environment households are not more likely to hold pro-environment portfolios. This results from financial disengagement: they are less likely to own stocks, check pension balances, or make green active retirement planning choices. Green financial engagement is stronger in settings where financial literacy is higher or where informational hurdles are lower. Informational barriers appear to prevent financial market prices and returns from fully reflecting household environmental preferences.

Keywords: Financial literacy; sustainable finance; household finance (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (9)

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