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Public are favouring 'green' technology

SAVING the environment is better than buying gold, says the Irish public -- which favours green tech investments above all other long-term investment options, according to the surprise results of a new survey.

When provided with four long-term options, 58pc of Irish adults favoured renewable energy as the best long-term investment type followed by 22pc who believed gold would outshine the competition.

Property was third at 10pc while shares plummeted to last place at just 7pc.

Michael Bradley, managing director of Clear Financial which conducted the survey, said: "While we've seen a definite swing towards alternative investment types, we were pretty shocked by the absolute drop in confidence in the more traditional investment classes of property and shares."

Renewables

Younger people were even more adamantly in favour of eco investments with more than two-thirds of those in the 18 to 25 age group (68pc) favouring investments in projects like wind and solar power.

Most of all, younger males favoured renewables -- 72pc compared to 63pc among younger females.

Almost one in five of women under 25 preferred property as a long-term option over a 20-year period. Geographically there was highest support for precious metals in Dublin where 27pc took a shine to it.

Mr Bradley said the survey showed evidence that the Irish public was now turning its back on investment classes which had burned them in the past.

Irish Independent