U.S. investors are not buying the myth that investing sustainably hinders returns, according to a study from Schroders.

Schroders released the findings of its annual Global Investor Study on sustainable investing, which surveyed more than 22,000 investors from 30 countries.

The study found that 73% of U.S. investors are not concerned that investing sustainably would hinder investment outcomes, indicating that investors are increasingly convinced robust returns and a positive impact are not mutually exclusive.

In fact, the study finds that sustainable investing is on the rise. According to the study, 70% of U.S. investors have increased their allocations over the past five years. Furthermore, 75% of investors stated that investing sustainably has increased in importance to them in that time.

“The fact that 64% globally and 70% of U.S. investors have increased their allocation to sustainable investments in the past five years tells you how important this is for so many people despite policy changes such as the U.S. dropping out of the Paris Climate Accords,” Ground said in a statement.

This trend is even more prominent among younger people.

According to the study, millennials are more likely to have increased their exposures to sustainable investments over the last five years. The study finds that 83% of 18- to 24-year-olds and 92% of 25- to 34-year-olds having increased their exposure. This proportion consistently drops for older age groups, culminating in 36% of investors 65 and older having done so.

Younger people also said they allocate a larger proportion of their portfolios toward sustainable investment funds. According to the study, 18- to 24-year-olds invest 52% of their funds in this manner on average, compared with 35% for the portfolios of 45- to 54-year-olds.

— Related on ThinkAdvisor: