Over 75 percent of investment managers are increasing their use of environmental, social and governance products and impact investing to meet customer demand, according to a survey released this week by Tiburon Strategic Advisors

ESG and impact investing have grown to $3.8 trillion in assets under management worldwide, up by 37 percent in the last eight years, according to the consulting firm.

About 4,200 financial services firms and 420 mutual funds reportedly have products in this investment niche.

The study cited Calvert Investments as the biggest player, with $13 billion in AUM, followed by JPMorgan Chase with $9 billion

Tiburon said ESG encompasses climate change, religious values, alcohol and birth control, while impact investing focuses on community development and peer-to-peer lending, and microfinance and private equity infrastructure that focuses on affordable housing, education and clean technology.

Microfinance lending is mostly in India, Latin America, Africa and Asian-Pacific nations.

Over half of consumers say it is important to take ethical, social or religious convictions into account when investing, the report noted.