Research & campaigns

We author and commission research to understand and promote the growing ethical finance sector in Scotland. We have produced assessments of the Scottish investment industry, as well as analysing and amplifying consumer demand for ethical finance in Scotland, and undertaking advocacy across the Scottish financial ecosystem.

How does Scotland feel about investing responsibly?

In 2019 Global Ethical Finance Initiative (GEFI) asked YouGov to carry out a survey to ascertain what people in Scotland felt about investing ethically: Did they feel that it was important for their investments to be invested ethically and did they feel that it was the responsibility of financial institutions to combat climate change? Since then, we have experienced the worst pandemic for a generation and seen increasing signs of the impact of climate change.

In August 2021, prior to COP26 in Glasgow, GEFI asked YouGov to conduct the survey again with additional questions relating to the Covid-19 pandemic, to see whether there were any changes in peoples’ attitudes towards investing.

Mapping the Ethical Investing Landscape in Scotland

This report is the first analysis of the responsible investment landscape in Scotland and was released in May 2020.

The report:
Examines asset managers and owners actively engaged in responsible investing.
Identifies Scottish-based investment funds that are managed ethically.
Compares results from Scotland to Ireland and the UK to provide context.

To find out more, please contact

Green Your Pension

We are working with Make My Money Matter, ShareAction and UK Sustainable Investment and Finance Association on a campaign increase demand and options for pension money to be invested responsibly. View the press release for the launch of Make My Money Matter here.

Our research has shown that many people do not think of themselves as investors, and yet hold investments through their pensions
Most people would like to see environmental and social issues taken seriously in investments
Our campaign has received media coverage in the Scotsman


Through a combination of our team of experienced practitioners, who have a deep knowledge and understanding of the ethical finance market, and our extensive network of specialist partners, we offer a robust research and advisory service. We can help navigate the world of ESG, responsible investment and impact.

Our core capabilities include:

Provision of Advice on Ethical Statements

We were commissioned by the Scottish Government to prepare a report on the “Provision of Advice on Ethical Statements” for the Scottish National Investment Bank – a new mission-oriented national investment bank. The report was intended to guide the leadership team in its efforts to develop the bank’s ethical statement and its associated ethical framework.

Click for the Executive Summary of the report

Inclusive Growth

In partnership with The Good Economy we were commissioned by the Scottish Government’s Office of the Chief Economist to research inclusive growth performance of businesses in the South of Scotland. The research identified the barriers businesses face to job growth and the types of finance and investment that could address business needs.

Click here for the report.

Click here for press coverage.

Using the SDGs for Profitable Transformation

As well as playing a key role in brokering a partnership between Scottish Government and United Nations Development Programme that resulted in a 2-year programme of collaboration aimed at mobilising private capital for the SDGs, the EFH is founding stakeholder endorser of the UN Principles for Responsible Banking. Working in partnership with One Stone we are able to support local organisations to use the SDG framework to explore investment approaches and drive positive business growth.

Click here for an overview of our offering.

Click here for our UNDP press release.

To find out how we can help your organisation improve its ethical policies or for general advise around ethical business and finance, please contact

Capacity building

We develop and deliver education and training courses, and maintain an internship programme in order to build capacity in the Scottish ethical finance industry. Our range of academic and professional courses are drawn from the knowledge and experience of our team, as well as experts from our wider network.

Executive education

Despite the remarkable recent growth of ethical finance there remain few academic or professional courses that provide commercially-focused pragmatic training. To address this gap in the market we have developed a delivered a series of short executive education courses to help build capacity in the local market. Topics we have covered to date include:

We are also able to offer bespoke courses delivered in-house.

As well as our own training programmes we work in partnership to design, deliver and promote third part courses. We are currently supporting the Edinburgh University Business School’s new three-part Sustainable Finance programme that starts in April 2021.

Click here for details.

If you are interested in attending, developing or hosting an in-house course please contact

Internship programme

In 2019, the EFH launched a unique internship placement scheme focused on ethical finance. The scheme provides a unique opportunity for Scottish-based students and graduates to gain practical work experience within financial institutions and associated organisations committed to ethical finance in Scotland.

  • Ethical finance themed 6 to 12 week summer internship programme
  • Available to Scottish based organisations and students / graduates
  • Industry partners commit to the EFH Internship Placement Scheme Charter 2020
  • EFH develops the project specification, markets the role, shortlists candidates and provides intern support before, during and after the project
  • Industry partners pay an administration fee to the EFH and cover intern salary (at least the living wage) and agreed expenses
  • EFH will raise awareness of ethical finance and build an engaged community of academics and students in Scotland.

As well as providing mutual benefits to industry partners and interns the scheme will play a key role in delivering the EFH’s objectives in relation to raising awareness of ethical finance at the same time as building the capacity of future practitioners. For details, please see the EFH Internship Case Studies.