From Knowledge to Allocation of Sustainable Assets: Results From An In-Field Survey In Italy

This paper investigates three underexplored aspects of sustainable household finance: (1) whether the determinants of knowledge, interest, and allocation in sustainable assets overlap; (2) what drives interest in specific dimensions among Environmental, Social, and/or Governance; and (3) the factors influencing the preference for direct versus delegated sustainable investments. Using original data from an in-field survey carried out in Italy, we find that knowledge, interest and allocation are shaped by distinct factors, with gender emerging as a common but divergent determinant. whereby men are more likely to know about sustainable assets, yet less likely to be interested in and to invest significant resources in these assets. Interest in specific ESG dimensions is also heterogeneous: younger, more educated, and climate-concerned individuals are more inclined toward multidimensional sustainable assets, whereas male respondents are consistently less interested in the Social factor. Finally, preferences for delegation are unrelated to sociodemographic traits while strongly related to longer investment horizon and interest in ESG mix, suggesting that the multidimensionality of sustainable assets might increase the perceived complexity of these assets, fostering reliance on professional management.