Has the credit crunch signalled the end of the green revolution?

The last six months have seen a huge drop off in the number of people willing to pay extra for green or eco-friendly products, according to research from cahoot.

In March of this year, the average consumer was willing to pay an additional £5 per £50 spent on groceries, but over recent months, this has dropped to just £2.45, less than half, as millions of Brits feel the pinch.

Almost a quarter of people (23 per cent) said that the current economic uncertainty made them less likely to consider the environment when doing their weekly shop. Thirty per cent of those questioned went further by saying that they're buying fewer goods they consider to be environmentally friendly.

Forty four per cent of Brits are now unwilling to pay any form of supplement for green products, and only 31 per cent are only willing to spend £5 or less. These latest figures come in stark contrast to those released by cahoot in March this year, where a staggering 76 per cent of those questioned said that they would be happy to pay up to £5 extra for environmentally friendly produce.

Matthew Timms, Managing Director of Cahoot commented: "We're more environmentally aware than ever before but with the cost of living skyrocketing, it's becoming more and more difficult to tempt us into parting with cash for greener foods - which are often significantly more expensive.

Timms continued; "There are simple steps that people can take to go green without spending a fortune, such as recycling or switching to paperless bank statements. These small changes will cost you nothing and help to protect the environment without denting your bank balance."

For more information on a cahoot current account, log on to cahoot.co.uk. Cahoot pays a consistent rate of 3.75 per cent interest on balances up to £250,000 and then 3 per cent on the remaining balance.