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DAY

Money Matters

11:30 a.m.

Put Your Money

Where Your Heart Is

Invest for Change

ONCE A CITY PLANNER FOR THE CITY OF VICTORIA, Dennis Carlsen now consults on green and affordable housing projects in Vancouver. He thought he was pretty up-to-date on environmental and social issues – until he took a closer look at his RRSP. Why was a tobacco company in his portfolio when his father died of lung cancer? But his advisor was more interested in rates of returns than feel-good finances. So Dennis made a move – to an ethical investor. Today Dennis’ portfolio is stuffed with SRIs (socially responsible investments) such as housing trusts and green technology. If Dennis wants more information on a company’s background, his advisor outlines its past. If he questions a certain holding, his advisor explains how ethical shareholders and investors leverage holdings to get a company to improve its record. Together they’re figuring out a better roadmap for how to invest.Could it be that the Gordon Gekko era of “greed is good” is fading? Today, ethical investing is a $609 billion industry in Canada. Socially responsible companies are increasingly seen as better value for money over the bad boys of the investing world. The logic runs like this: companies that treat workers well or upgrade environmentally will avoid major costs when government regulations and other restrictions kick in later. Today, traditional holdings earn nearly the same as ethical stocks. For every early adopter like Dennis, who would choose the common good over profits regardless, ethical investment options continue to expand. We can increasingly make a buck and do good at the same time. Speak to your advisor about SRIs or turn to the Social Investment Organization’s cross-Canada listings for advice. Get informed and don’t be afraid to ask the tough questions.

THE STEPS TO SOCIALLY RESPONSIBLE STOCKEach industry has its own environmental or social issues to wade through. Ask your advisor which companies are leaders or laggards when it comes to instituting changes.Raise the topic of corporate social responsibility with your advisor. It’s his or her job to know.You can’t just walk into any old bank branch and talk investments. All major banks have a special investment branch. Make an appointment there.

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Living Me To We | Day

DAY

Money Matters

11:30 a.m.

MY WAY OR THE HIGHWAY

Figure out whether your advisor can help you in your pursuit of socially responsible stock

DO YOUR HOMEWORK: KNOW THESE TERMS

ESG: Environmental Social GovernanceYour advisor may refer to ESG, which stands for Environmental Social Governance factors and look at the long term of investment.

“Best in Class”Also called “industry agnostic,” the “best in class” approach singles out and excludes the least responsible players within a certain industry.

Source: Jantzi-Sustainalytcis.

GO TO PAGE 161 FOR MORE TIPS AND INFORMATION

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