A psychological perspective on sustainable investments

Aims and objectives In the last decades it was registered an increasing number of investors who decided to build their portfolios by including sustainable investments, aimed to generate social change and financial returns for investors and the society. However, from a purely financial perspective, studies provided inconsistent evidence on whether sustainable investments can outperform, equal or underperform mainstream investments. Therefore, it is suggested that investment decisions are not only driven by financial goals but also by investors’ desire to generate positive impacts to the society and the environment. The present study aims to explore people’s opinions and beliefs about ESG investments, and to understand the main determinants behind investors’ choice of socially responsible investing in terms of values and attitudes. Methods A quantitative methodological approach is adopted, with an online survey involving a sample of Italian citizens. ESG investors, general investors and non-investors will be included in the sample. Results Expected results from this study will allow to understand what people think and believe about ESG investments, outlining potential stereotypes and fake beliefs. Furthermore, understanding how investors’ values, attitudes and opinions influence investment choices may be able to support the design of programs and interventions aimed to promote more informed investment decisions, increasing the choice of sustainable investments and contributing to further develop sustainability in the financial sector. Conclusions Still limited research has been conducted regarding the psychology of ESG investors, despite the central role of such investments to ensure the future sustainability of the planet, society and economy. The research will provide insights on ESG investments through a psychological perspective, useful to both academics and practitioners. In terms of limitations, the study will be conducted in Italy, with clear impacts in terms of generalizability, and results will be based on self-report answers, whose benefits and risks are broadly well-known.