Using a representative sample of the Dutch population, we investigate the determinants of the two main motivations for investing sustainably. Specifically, we study which individual characteristics are associated with sustainable investors who invest primarily for social reasons (social sustainable investors) and those who do so primarily for financial reasons (financial sustainable investors). Compared to non-sustainable investors, social sustainable investors have a higher level of social preferences, education, trust, and are more likely left-wing and risk averse. Financial sustainable investors have a lower level of social preferences and are more sensitive to recommendations from (social) media and word of mouth.
