- Eighty-one per cent of Canadians surveyed think it important to use their investment dollars to influence positive societal change.
- Ninety-two per cent who hold sustainable investments plan on increasing their sustainable holdings in the next few years, up from 71 per cent last year.
- However, six-in-ten have concerns about greenwashing and a lack of transparency in corporate governance.
TORONTO, April 13, 2023– According to Mackenzie Investments’ fourth annual Earth Day Study, while a large majority of Canadians surveyed (81 per cent) feel that it is important to use their investment dollars to bring about positive societal change, many are concerned about the true impact of sustainable investments.
The study, which was conducted in partnership with Pollara Strategic Insights, examined Canadians’ level of trust in companies’ sustainability claims and transparency in corporate governance. Key findings include:
- Six-in-ten Canadians surveyed have concerns about if their sustainable investments are truly “sustainable,” with greenwashing (35 per cent) and the ability to access information and hold businesses accountable for their impact on society and the planet (31 per cent) being of major concern.
- Half of Canadians surveyed (51 per cent) either do not feel like sustainability claims are credible (20 per cent) or do not know if they are credible (31 per cent).
- Seventy-eight per cent report it is important to increase transparency and access to details about business practices and performance of sustainable investment impact claims.
“As the world moves towards a more sustainable future, Canadians are rightfully seeking accountability from financial institutions – and the companies in which they invest,” said Fate Saghir, Head of Sustainability, Mackenzie Investments. “It’s clear that they feel there’s more that can be done by our industry, including increasing transparency about our practices. As an industry we have made progress but need to keep advancing our efforts toward comprehensive disclosures, simple language and clearer outcomes to give clients greater peace of mind.”
Canadians increasingly considering the impact of their investments
The study also looked at how Canadians’ perceptions are changing about sustainable investments more generally. The study found:
- A strong majority of Canadians surveyed (72 per cent) believe the global economic, environmental, and social changes in recent years have made them more aware of what is going on around the world.
- Ninety-two per cent who hold sustainable investments plan on increasing their sustainable holdings in the next few years, up from 71 percent last year.
- Canadians are increasingly more conscious of their investment decisions, with 54 per cent surveyed likely to consider how they can have a positive impact on the world, up from 50 per cent in 2022.
“Canadians are more than ever considering how their investing decisions are impacting the world, and that’s certainly an encouraging trend,” said Ms. Saghir. “What we’re also seeing is a growing awareness that sustainable investing can mean providing for our current needs without compromising the needs of future generations, alongside the potential for long-term portfolio performance.”
About Mackenzie Investments
Mackenzie Investments (“Mackenzie”) is a leading investment management firm with $194 billion in assets under management as of March 31, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $260 billion in total assets under management and advisement as of March 31, 2023. For more information, visit mackenzieinvestments.com
About the Pollara Study
This study was conducted with an online sample of 1000 adult Canadians between 8 and 15 March, 2023. Results from a random sample of this size can be considered accurate to within ±3.1 per cent, 19 times out of 20. Results have been weighted by gender, age, and region, using the latest census data, to be representative of the Canadian population.
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