In the study 38% of UK consumers said they would pay a premium for environmentally-friendly products. Marketing directors believe just under half of consumers would pay more.
The research was carried out by CCB fastMAP on behalf of marketing agency Gyro.
On a global level a higher proportion of UK consumers were prepared to pay more for ethical products than their US counterparts (32%). However, many more European consumers (55%) would accept an ethical premium.
However, the decision not to pay more for ethical does not mean UK consumers are not concerned about environmental issues.
In a list of consumer concerns, the environment comes behind the cost of living and terrorism and above house prices and immigration.
Across the three regions it was found consumers were prepared to pay more for ethical products in the food and grocery category (68%). This was followed by automobiles and fuel (65%) and utilities (56%).