Behavioural drivers and interventions of socially responsible investment: A literature review

Based on a literature review incorporating papers written before July 2021, this report presents behavioural factors affecting peoples’ decision to invest in socially responsible investment (SRI) products. It groups behavioural factors into three clusters: (i) attitudinal factors, (ii) social factors, and (iii) cognitive factors. Besides, it presents evidence on the behavioural interventions that can influence SRI decisions. Four types of interventions are identified: (i) information disclosure, (ii) information framing, (iii) labels, and (iv) defaults. Based on this review, we propose that scientists investigate the impact of social information on SRI, and policymakers take into account behavioural factors when designing policy interventions to make them more effective.