A study1 by HSBC Life – HSBC’s insurance business – highlights how being financially fit benefits society by boosting support for charity and ESG investing.
The +Factor study surveyed over 3,000 UK adults, to gauge their health and wellbeing in a bid to better understand the relationship between people’s physical health, mental wellbeing and their financial fitness as well as the wider societal impact of these three health dimensions.
The study finds that financial fitness has a major impact on charitable giving – 92% of those who are financially very fit make donations sometimes or often, 89% of those with above average mental health and 88% of those who feel physically fit also back charities regularly.
More than half (56%) of those people who are financially very fit opt for sustainable or ESG investments sometimes or very often, 61% of those who feel physically very fit and 56% of those with above average mental health following suit.
The +Factor study also finds that around 61% of those people who are financially ‘very fit’ volunteer in community events, whilst 60% of those who are financially unfit never volunteer. Mental and physical health also appear to have an impact on volunteering activity, with 60% of those having above average mental health and 59% of those who are physically fit regularly volunteering.
Mark Hussein, CEO, HSBC Life UK said: “Our study confirms that being financially, physically and mentally healthy does not just benefit individuals but also society as a whole. Those people who are financially fit are more likely to invest sustainably, which supports the increasing focus on ESG throughout the fund management industry.”
The full +Factor study is available to download here:
www.life.hsbc.co.uk/customers/health-and-wellbeing-centre/health-and-wellbeing-study/
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Media enquiries:
Mat Barling + 44(0) 738 479 4295 mathew.barling@hsbc.com
Charlotte Pascal +44(0) 7738 385 687 charlotte.pascal@citigatedewerogerson.com
Notes to editors:
- Research conducted by Engine Group between March and April 2021 using an online methodology among a total of 10,659 people aged 18 to 80 across four global markets: Hong Kong (n=2,016), mainland China (n=3,560), Singapore (n=2,059) and the UK (n=3,024).
- Demographics statistics of sustainable investors and monthly/annual amounts invested in HSBC’s sustainable funds are available on request.
About HSBC Life (UK) Limited
HSBC Life (UK) Limited is a subsidiary of HSBC Bank plc and was founded in the UK in 1988. HSBC Life (UK) Limited offers a range of insurance services to meet protection and wealth management needs and help clients to manage, protect and grow their wealth. Our services and solution are available through HSBC banking channels and selected third parties, including financial advisers and aggregators. For more information on HSBC Life (UK) Limited range of services go to https://www.life.hsbc.co.uk/ and for more information on HSBC please go to https://www.hsbc.com
About HSBC Life
HSBC Life is the insurance business of the HSBC Group. We manufacture life and health insurance products in Hong Kong, mainland China, Singapore, India*, France, UK, Malta, Mexico, and Argentina. HSBC Life offers a range of insurance products to meet the protection, education, retirement, wealth growth and legacy planning needs of our customers. Our services and products are available through HSBC banking channels, selected third parties, including financial advisers and aggregators.
*Through our joint venture, Canara HSBC OBC Life Insurance
The HSBC Group
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, the Middle East, and North Africa. With assets of US$2,969 billion on 30 September 2021, HSBC is one of the world’s largest banking and financial services organisations.
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