More than two out of five (42%) people aged under 30 believe that campaigning for important social issues is at least as important as making profits, compared with 26% of the over 45s according to a survey of wealthy entrepreneurs around the world.

The findings are highlighted in a new report by the Charities Aid Foundation.

The report found 71% of wealthy people under 30 rate social responsibility as an important influence on their investment decisions, compared with 63% of over 45s.

It also found that 65% of wealthy people under 30s rated charitable activity as an important part of their wealth creation, compared with 58% of over 45s.

The report, “Catalysts for change”, is the second in a series on the attitudes of a new generation of wealthy individuals. Research published by CAF last year found that the next generation of wealthy young philanthropists want to use their money to bridge the gap between rich and poor.

CAF’s latest research includes examples of philanthropists and social entrepreneurs using strategic giving, social investment and new technology to make an impact on the causes they care about.