Downturn 'will not halt ethical home expenditure'

A new study has found that despite the economic downturn, ethical home expenditure is bucking the trend and rising steadily.

Research by the Co-operative Bank found that an increasing amount of money is being spent on incorporating green features into building work and delelopment of land, resulting in a 13 per cent growth in the sector in 2008, according to Crains Manchester Business.

Managing director of retail at the Co-operative Bank Dick Parkhouse is quoted as saying: "Government intervention, which promotes energy efficient products […] is underpinning these markets ensuring that they continue to grow.

He claims the state of the economy will "impact on consumer spending" but the report shows that decisive government action "can stimulate markets, save consumers' money and protect the environment".

Spending on green features in the UK rose from £5.9 billion to £6.7 billion in 2008, and included money spent on energy-efficient electrical appliances, small renewables, eco-conscious energy generation and green mortgage repayment.