December 24th, 2008 · No Comments

Green Right Now reports

A struggling economy won’t trump concerns about an equally troubled environment among business owners, who remain committed to funding green causes, according to a new survey from SunTrust Bank Private Wealth Management.

Sixty-nine percent of more than 200 business owners surveyed agreed that “even if there is an economic downturn that moderately affects my business, I plan to maintain my current level of giving to environmental causes in the coming year.”

Most survey respondents, whose companies have at least $10 million in annual revenue, believe it is a “good” or “average” time to invest in mutual funds or other financial instruments that are specifically marketed as “green” or environmentally responsible. Another forty percent of respondents said it is a “good time” for all businesses to adhere to the highest possible environmental standards.

“The survey shows that business owners recognize that environmental stewardship can have genuine bottom-line results,” said Dave Johnston, senior vice president of SunTrust Private Wealth Management, in a statement. “Through our Business Owner Specialty Group, we see that business owners want to give back to the community while also supporting strategic, green investing.”

Fifty-nine percent of business owners believe that green investments will generate a rate of return similar to any other fund.

Pollution and energy policy were the top concerns of business owners. Almost half feel the health of the earth’s environment is “fair” (47%), with 30 percent citing it as “good,” 18 percent as “poor” and only five percent as “excellent.” Forty-five percent believe the earth’s environment is slowly deteriorating.

Looking at investment patterns, the survey found that 88 percent of business owners give money only to environmental organizations they have researched thoroughly. And 72 percent give only to environmental organizations that are “well established.”

The study was conducted by GfK Roper Public Affairs online for SunTrust Bank Private Wealth Management. The random sample was conducted in November 2008.