Wealthy Are Looking to Bridge Belief and Practice on The Environment. But At Least They’re Having The Tough Conversations
Wealthy families and individuals are increasingly concerned with social and environmental issues. But do they practice what they preach? The new Knight Frank 2024 Wealth Report says they’re starting to: two-thirds of ultra-high net worth individuals are trying to reduce their carbon footprint, while one-fifth are trying to actively measure it for greater clarity on goals and metrics.
“Wealthy families and UHNWIs have an increasing commitment to environmental responsibility,” says Wingspan’s Maryann Bell, quoted within the report (page 51). But few are curbing use of their private jets. “This is the hardest change as it has an efficiency and time element,” says Maryann. “But we are seeing a lot more conversations about offsetting that travel.”
Read more about this and other 2024 trends for wealthy families and individuals in the full report.
