Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324640 
Year of Publication: 
2025
Series/Report no.: 
SAFE Working Paper No. 452
Publisher: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Abstract: 
This paper examines how offering sustainable investment options influences sustainable consumption behavior. We combine a natural experiment in which individuals receive an option to switch to a pension plan with a strong sustainability profile with detailed household register data. This sustainable option improves sustainable consumption, as reflected in electric vehicle adoption and reduced vehicle emissions. The effect is primarily driven by individuals who do not choose the sustainable plan. We show that making sustainable investment available can create positive spillover effects on other sustainable behaviors, highlighting the potential of financial tools to support broader societal change.
Subjects: 
Household finance
sustainable investments
sustainable consumption
pension investments
sustainable pension plans
electric vehicles
JEL: 
G11
G51
D14
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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