The rise of the 'Guppie'

With the sequel to the 1987 hit movie Wall Street set to hit our screens next week, it seems that ruthless stockbroker Gordon Gekko's famous mantra is back, but with a 21st Century twist. The Yuppies of Yesteryear are older, wiser, richer and GREENER, according to latest research.

The RIAS ‘Yuppies: Older, Wiser, Greener' report reveals green issues are more important than ever. Just over half (55%) of the UK's over 50s, equivalent to 11.9m people, admit that being green matters more to them more today than it did three decades ago, revealing a new tribe of ‘Guppies', or Green Yuppies, taking the green agenda by storm.

Older, wiser, richer, GREENER!

While the Yuppies - young, high achieving city-dwellers with well-paid jobs and affluent lifestyles - were known for their love of making money during the 1980s, this was also a famously technology savvy generation and it seems that this trait has grown up with them, with many choosing to add cutting-edge ‘green' technologies and gadgets to their homes.

‘Green is Good'

Almost all of those surveyed (91%) by the specialist insurance provider, equivalent to 19.6m over 50s, use energy saving light bulbs, just under a quarter (24%) have installed a low-flow showerhead to help reduce their water waste, 5% have even added solar panels or wind turbines to their properties as a way to make their homes more energy efficient, and a further 3% have signed up to a green energy supplier who uses renewable sources.

When asked about what steps they've taken reduce their carbon footprint, over three-quarters (81%) said they made a conscious effort to turn lights off when they leave a room, just over half (53%) wash all their clothes at 30 degrees, and over a third (30%) use public transport now more than ever.

Lives in a very big house in the country

As you'd expect, the overwhelming majority of yuppies lived in urban and suburban environments some 30 years ago, but now only 56% of 50-65 year olds live in similar locations. One quarter have migrated to the country where they live and spend the majority of their time, with one in five (9%) making a conscious decision to downsize.

Over a quarter (28%) of today's green yuppies are no longer growing their empire in financial districts but in their own back garden. 'Guppies' are growing their own produce in vegetable patches at home or on their own plots in local allotments, and one in ten (11%) have installed grey water recycling systems, where water waste from showers, baths and washing is stored and re-used to flush the toilet.

Janet Connor, Managing Director at RIAS comments: "It's fascinating to see how the original ‘yuppies' have come of age.  Yes, money may still be important to them - they've earned it after all - but it's great to see many of them turning into ‘Guppies'. A huge number of them are making a conscious effort to support the environment, with their efforts and commitment set to benefit their grandchildrens' generations."

This generation actively campaign and make a difference to issues they care about and believe in, and it's these actions and behaviours that will rub off on younger generations and hopefully set them on their way to a greener lifestyle. And with RIAS Buildings Insurance covering solar panels and wind turbines as standard, today's green over 50s can not only invest in the latest environmentally friendly technologies, but also enjoy the peace of mind that their ecological purchases are fully protected."

RIAS Home Insurance covers damage to solar panels and wind turbines as standard as part of its buildings insurance policy, providing cover of up to £1m. In addition, RIAS Home Insurance includes the following features and benefits:

Buildings cover up to £1 million;

Up to £50,000 contents cover as standard (can be increased up to £100,000);

New-for-old replacement on damaged or stolen items (excluding clothing and household linens);

Accidental damage cover to electrical equipment such as TVs and computers;

Identity Theft Assistance service - a support service to help if customers if they believe they are a victim of this type of crime.

For more information about RIAS Home Insurance, or the full range of products RIAS offers, visit rias.co.uk.