[Digital ISBN: e-2184-898X |]

ERBE 02 1 01

Who Cares about Sustainable Investments?


a CMVM – Comissão do Mercado de Valores Mobiliários, CICEE – Research Center in Economics & Business Sciences, and CEFAGE – Center for Advanced Studies in Management and Economics, Universidade de Évora.

To cite this article:

Mendes, Victor. 2022. Who Cares about Sustainable Investments? European Review of Business Economics II(1): 3-26.


Received: 21 July 2022. Accepted 25 October 2022. Published: 31 December 2022

Language: English

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This paper aims to identify which characteristics of individuals, investors or not, lead them to prioritize sustainability over profitability. It also assesses the impact of the sources and types of information used and the impact of non-economic factors on the decision-making of (non-)investors. I conclude that the sensitivity of Portuguese individuals to sustainability issues differs between investors and non-investors, not only with regard to the sources used but also with regard to the topics on which they look for information. However, as far as values and attitudes are concerned, the results are very similar for investors and non-investors.


Sustainable investments; retail investor; behavioral finance; sources of information.

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