Millennials are more likely than Generation X-ers or Baby Boomers to make an investment decision based on environmental, social and corporate governance (ESG) factors, according to a 2019 survey by Allianz Life Insurance Co.: 57 percent of Millennials said they have made an investment decision based on a business' impact on society. The percentages for Gen X-ers and Boomers were 42 percent and 35 percent, respectively.

Source: “ESG: Ethics and investing: How environmental, social, and governance issues impact investor behavior,” Allianz Life Insurance Co., p. 4,

Data for the graphic are as follows:

Survey Answer Millennials Generation X-ers Baby Boomers
Percentage Who Have Discussed ESG Investing With a Financial Adviser, by Generation 55% 25% 11%
Percentage Who Have Invested in, or Not Invested in, a Company Because of ESG Considerations, by Generation 57% 42% 35%

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