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Financial literacy and sustainable finance decisions among Italian households

Author

Listed:
  • Lanciano, Edoardo
  • Previati, Daniele
  • Ricci, Ornella
  • Santilli, Gianluca

Abstract

This paper empirically investigates whether financial literacy affects people’s attitudes toward sustainability, considering the degree of knowledge on sustainable finance, sustainable development and Environmental, Social, and Governance (ESG) factors and whether this knowledge affects sustainable investment decisions. We investigate a sample of 5000 respondents from the 2022 survey led by the Italian Financial Education Committee. We find that financial literacy is positively related to the level of knowledge of sustainable finance topics and that understanding these topics has a positive effect on several sustainable investment variables. We aim to highlight the role of financial literacy in sustainability goals and enrich the existing literature on the relationship between financial literacy and sustainable finance, providing further empirical evidence about a relationship that is not yet sufficiently explored.

Suggested Citation

  • Lanciano, Edoardo & Previati, Daniele & Ricci, Ornella & Santilli, Gianluca, 2025. "Financial literacy and sustainable finance decisions among Italian households," Journal of Economics and Business, Elsevier, vol. 134.
    • Handle: RePEc:eee:jebusi:v:134-135:y:2025:i::s0148619524000626
    DOI: 10.1016/j.jeconbus.2024.106220
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    More about this item

    Keywords

    Financial literacy; Financial education; Sustainable finance; Sustainable investments;
    All these keywords.

    JEL classification:

    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • G1 - Financial Economics - - General Financial Markets
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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