About the project
The "Households' attitudes and preferences as capital providers in the market for socially responsible financial instruments in the context of climate change" project is aimed at supporting young scientists in conducting scientific research by financing the costs related to the collection, processing and analysis of empirical data, including disseminating the results of the research in the national and international scientific community and among residents and entrepreneurs operating in the Metropolis GZM area.
This research project aims to identify the factors that make households more likely to fund the green transition by purchasing socially responsible financial instruments. Previous research in this area is scarce and rather descriptive in nature, failing to provide a proper contextualization of the problem within the theory of investment decision-making. Consequently, it does not offer guidance for public authorities, among other things. The proposed study aims to fill this gap.
The research task will be conducted by dr Rafał Buła, and involves the following activities:
- analysis of relevant literature (national and international) covered by the research task;
- analysis of publicly available secondary data;
- development of original scientific research on the intertemporal preferences of residents of Metropolis GZM;
- preparation and analysis of statistical data collected as part of the research task;
- presentation of research results at renowned national and international scientific conferences;
- preparation of a scientific paper presenting the results of the research;
- popularization of research results among residents of Metropolis GZM (e.g., in the form of public lectures, participation in popular science events, etc.).
The project coordinator is dr hab. Monika Foltyn-Zarychta, prof. UE. This project is part of the "ECOnomics4Climate III" cluster project implemented by Prof. Foltyn-Zarychta, with the support of Internationalization.
The "Households' attitudes and preferences as capital providers in the market for socially responsible financial instruments in the context of climate change" project has been co-financed by the Metropolis GZM within the framework of the "Metropolitan Science and Education Support Fund" program for years 2022-2024. The total grant amount is PLN 34,785.00.
Project implementation period: March – November 2025.
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Conducted research and publications
Key findings from the research:
- Among the Polish population, there is a trend towards a decline in the rate of return on household assets as the sense of moral obligation regarding the protection of the natural environment, biodiversity and the fight against climate change grows (according to the predictions of financial theory). However, this impact is minor, which may suggest a need to take action aimed at deepening understanding and promoting socially responsible financial instruments.
- Among residents of the Metropolis GZM, an increase in the rate of return on household assets can be observed alongside a growing sense of moral obligation regarding the protection of the natural environment, biodiversity and combating climate change (contrary to the predictions of financial theory). This effect is small, as is the case nationwide, but unexpected given the direction of the relationship. A potential explanation for this phenomenon may be greater awareness among the residents of Metropolis GZM of the inevitability of the transition process, which may translate into greater awareness of the risks associated with declining industries. Consequently, this may lead to the avoidance of losses associated with reaching the equilibrium state considered in the Fama-French model (2007), generating a positive above-average rate of return. It therefore seems advisable to continue the existing efforts aimed at promoting the green transition process in the context of socially responsible financial instruments among the residents of the Metropolis GZM.
In fulfilment of the project’s requirements regarding the dissemination of research findings in the form of scientific publications, a chapter entitled "Households’ Attitudes and Preferences Towards Socially Responsible Investing," included in the international post-conference scientific monograph Financial Management of Firms and Financial Institutions 2025, which is currently indexed in the Web of Science and is scheduled to be submitted for indexing in the Web of Science.
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