The way we’ve done things for the past 50 years just isn’t good enough any more. That was the sentiment described in an article published this weekend in the Waterloo Region Record.
The prevailing market ethos of profit at any cost is falling quickly by the wayside. Canadian Investors are looking for more from there RRSP and TFSA providers. Don’t get me wrong. They are still looking to make money by investing in Segregated Funds and Mutual funds, but the difference today is that Canadians are realizing that “Profit at All Costs” is neither good nor sustainable for our planet. In place of these traditional investments, Canadians are increasingly looking for ethical investing options and advisors alike that follow a code of ethics when choosing which products to invest in.
The good news is that fund companies are listening and continue to look for ways to meet this demand. In May of 2021, Manulife Introduced there new “Climate Action Fund”.
The management team on the action fund works hard to find companies that not only produce environmentally safe products, but they also look for companies that are committed to reducing their environmental impact as well. Companies like Microsoft and Mastercard that have made commitments to using 100% renewable energy in the next 5 years.
Beyond just creating ethical funds, companies like Manulife and Sunlife, are changing the way they do business as well. Since the outbreak of COVID-19, many office employees are working full time from home, thereby decreasing their carbon footprint.
Furthermore, by accepting E-Signatures on most applications and forms, as well as E-Delivering Policies and statements, these companies are helping to considerably decrease the amount of paper waste and limiting the amount of time (and fuel) spent by advisors on needless back and forth trips to their homes, only to gather a signature or deliver a document. The net result has been greater efficiencies for employees and advisor and lower costs on office space, stationary and energy costs.. A truly win win situation for everyone.
If investing in ethically managed funds is something you’d like to add to your RRSP or TFSA portfolio, give me a call at 519-721-7254 or send me an email to mac@klynefinancial.com. Helping people to better understand their investment options is one of the best parts of my job. I can’t wait to hear from you.
Learn more about Klyne Financial and learn how we can help.
