Survey on Sustainable Financial Products: German Consumers Demand Clear Rules and Transparency

The German Federal Financial Supervisory Authority (BaFin) recently conducted a representative online survey in June 2025 to assess consumer attitudes toward sustainable financial products. The study involved 1,528 participants, with about 65% expressing interest in sustainable investing. The findings highlight strong consumer demand for transparency and clear regulatory standards in sustainable finance.

Key Survey Insights

• Consumer Interest: Around two-thirds of respondents (39% somewhat interested; 26% strongly or very strongly interested) show interest in sustainable financial products, underscoring ongoing relevance in Germany.
• Clear Sustainability Labeling Essential: Nearly all surveyed consumers expect transparent sustainability information before purchasing financial products. 60% demand that providers clearly present relevant ESG (environmental, social, governance) criteria prior to contract conclusion.
• Expectation to Avoid Deceptive Practices: 70% of sustainability-interested respondents would feel deceived if products contain investments viewed as unsustainable — particularly those tied to controversial weapons or companies with serious human rights violations.
• Exclusion of Human Rights Violations: About two-thirds support mandatory exclusion of financial products linked to human rights abuses; over half oppose investments in controversial weapons or coal power expansion.
• Minimum Sustainable Investment Quotas: Respondents suggest at least 40% of investment capital should be allocated to genuinely sustainable initiatives or those aiding transition to a sustainable economy.

Consumer Perception of EU SFDR Product Categories

BaFin’s survey probed attitudes on potential reform proposals for the EU Sustainable Finance Disclosure Regulation (SFDR), which governs sustainability disclosures in investment products. Respondents showed varied acceptance of four proposed product categories:

• Sustainable Financial Products (invest exclusively in ecological/social activities): 80% regarded as credible.
• Transition Products (supporting sustainable economic shifts): Over 50% acceptance.
• Exclusion Products (exclude certain sectors with no proactive sustainability goals): 40% acceptance.
• Mixed Products (combine elements of the above without fixed proportions): Only ~30% acceptance, lowest acceptance rate.

Implications for Sustainable Finance Regulation

The ongoing EU Commission revision of the SFDR offers an opportunity to enhance clarity and build consumer trust. BaFin’s findings emphasize:

• The critical need for clear, standardized definitions and labeling to prevent greenwashing.
• Aligning product categories with public expectations, favoring transparency and impactful sustainability.
• Strengthening consumer protections to ensure honest marketing of sustainable finance products.

Additional Resources

• BaFin’s Questionnaire on Sustainable Financial Products (PDF)
• Presentation on Minimum Proportion of Sustainable Investments (PDF)

About BaFin

BaFin is Germany’s financial regulator responsible for supervising banks, financial services providers, insurance undertakings, and securities markets. It plays a pivotal role in advancing sustainable finance regulation and protecting consumer interests in financial markets.

References:

• BaFin, Survey on sustainable financial products: Consumers expect clear rules, October 14, 2025.
• EU Sustainable Finance Disclosure Regulation (SFDR), ongoing reform process.

For more on sustainable finance and consumer protection, visit BaFin’s Official Website.

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