Category: News

We’re pleased to announce the judges of the 2022 RIA Leadership Awards! The Awards will recognize the outstanding contributions of our members to responsible investment in Canada.

The panel of judges is composed of experts from across the industry including financial advisors, consultants, asset managers, asset owners, journalists, and academics.

Meet the Judges

Amr Addas – Adjunct Professor and Director of the Van Berkom Investment Management Program, John Molson School of Business, Concordia University

Amr Addas is an Adjunct Professor and Director of the Van Berkom Investment Management Program and Van Berkom Small Cap Case Competition at the John Molson School of Business, Concordia University. He leads Concordia’s Sustainable Investing Practicum in collaboration with Manulife. Learn More

Patti Dolan – Senior Wealth Advisor, Portfolio Manager, Wagner Investment Management Team, Wellington-Altus Private Wealth Inc.

Patti Dolan is portfolio manager with Wellington-Altus Private Wealth, based in Calgary. Patti has been in the investment industry for over 30 years and has practiced Responsible Investing (RI) since 1995. Learn More

Pablo Fuchs – Globe Advisor Editor, The Globe and Mail

Pablo Fuchs is editor of Globe Advisor at The Globe and Mail, a position he has held since January 2019. He oversees the editorial direction and manages the production of daily content for the Globe’s direct-to-advisor offering. Learn More

Christian Hansen – Compliance and Revenue Manager, The Real Estate Foundation of BC

Christian has worked for the past 12 years at the Real Estate Foundation of British Columbia where he oversees the revenue streams and investments of the Foundation. Learn More

Emily Lawrence – Director, Sustainable Investing, Northern Trust Asset Management

Emily Lawrence is Director of Sustainable Investing Client Engagement for North America at Northern Trust Asset Management where she is responsible for client engagement and partnership regarding Northern Trusts’ sustainable investing capabilities. Learn More

Michelle McCulloch – Director, Research Products, Sustainalytics

Michelle leads the Thematic Research Team within Research Products at Sustainalytics and is also a leader on the Enhanced Research Team. She has been a sector manager leading both the Financials research team and the Extractives research team. Learn More

Jean-Philippe Renaut – CEO, Æquo

Jean-Philippe Renaut joined Æquo in 2016 and a year later became its CEO. He is responsible for client relations, business development and operations, and leads specific dialogues with companies on behalf of Æquo’s clients. Learn More

Mark Sevestre – President, National Aboriginal Trust Officers Association

In 2006, Mark became one of three founding members of the National Aboriginal Trust Officers Association. Serving in several roles, including Board Member, Committee Chairman and President, Mark is currently serving as Founder and Senior Advisor to NATOA. Learn More

Melissa Shin – Editorial Director, Advisor’s Edge and Investment Executive

Melissa Shin is the Editorial Director at Advisor’s Edge and Investment Executive with Newcom Media Inc. As an award-winning journalist and the editorial director of four national financial services publications, Melissa turns technical subject matter into accessible content for sophisticated audiences. Learn More

Sarah Takaki – Head of Sustainable Investing, Healthcare of Ontario Pension Plan (HOOPP)

Sarah Takaki is the Head of Sustainable Investing at the Healthcare of Ontario Pension Plan (HOOPP), where she leads the Sustainable Investing program. Learn More

Stephen Whipp – Senior Investment Advisor, Certified Responsible Investment Specialist, Leede Jones Gable Inc.

Stephen Whipp is an activist and a passionate guy. He believes that individuals working together really can change the world for the better. With a background in journalism and non-profit management that includes aboriginal governance, and more than 20 years as a successful investment advisor, Steve brings a potent combination of experience, knowledge and connections to the table. Learn More

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Eric Ayala (RIS), Desjardins
Max Becker-Pos (RIS), Prometheus Private Advisory Group
Amberle A Benoit (RIS), Synergy Credit Union
Azarnoush Bordbar (RIS), VANCITY CREDIT UNION
Youcef Bouhallel (RIS), BANQUE LAURETIENNE
André-Phillippe Caissie (RIS), CIBC Wood Gundy
Marlene Da Costa (RIS), Continuum Financial Centres
Steve Delemere (RIS), Desjardins
Natalie Desjardins (RIS), Alterna Savings
Charles Eddy (RIS), Sterling Mutuals Inc.
Charles-Antoine Faubert (RIS), Mica Capital
Jérémie Gauthier (RIS), Hudon & Gauthier
Carol Hosein (RIS), Investia Financial Services Inc.
Anne-Marie Hudon (RIS), Hudon & Gauthier
Ian Janacek (RIAC)
Alissa Keer (RIS), Synergy Credit Union
Yuriy Kovalyov (RIS), Desjardins Financial Security Investments Inc.
George Kover (RIS), Vancity
Stephen Lai (RIS)
Nancy Lai (RIS), Vancity
Shui Hong (Rex) Lam (RIS), Vancity
Martez Dwayne Lambert (RIS), HUB Capital / EasyInsure
Runald Ledda (RIS), Vancity Credit Union
Andrew Mitchell (RIS), SEI Investments
Beverly Mosher (RIS), ScotiaMcLeod
Burke Mudge (RIS), Manulife Securities Incorporated
Anne-Sophie Pettigrew Laberge (RIS), Desjardins
Michael Powell (RIS), Meridian Credit Union
Hardeep Sappal (RIS), Vancity
Doussou Sidibé (RIS), Desjardins
Kate Thompson (RIS), Rock Thompson
Claudine Uzcategui (RIS), Fidelity Investments
Kevin G Walter (RIS), Investia Financial Services
Jamie West (RIS), Libro Credit Union

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Robert Anderson (RIS), Aspire Financial Group Inc
Martin Anderson (RIS), Investia Financial Services Inc
Beatriz Barahona (RIS), Mouvement Desjardins
Mike Basque (RIS), CU Financial Management
Sebastian Beckett (RIS), Fidelity Investments Canada
Allison Blackshaw (RIS), RBC Dominion Securities
Yann Bourgoin (RIS), Services Financiers Yann Bourgoin Inc.
Janet Bradley (RIS), Servus Credit Union
Helen Mercedes Brown (RIS), HMB Financial Freedom
Benoit Campeau-Hunziker (RIS), Desjardins
Doug Carroll (RIS), Aviso Wealth
Cody Cartier (RIS), Invesco
Arthur Cavasin (RIS), CIBC Asset Management
Dorian Chin (RIAC)
Jacques Côté (RIS), SFL placement
Jaden De Pastena (RIS), Assante Capital Management
Jake N Earle (RIS), Sun Life
Marc-André Fournier (RIS), Services Financiers Marc-André Fournier Inc.
Harsh Bipin Fozdar (RIS), Vancity
Jeff Greenfeld (RIS), IA Private Wealth
Harpinder Grewal (RIS), Vancity Credit Union
David Craig Gunn (RIS), CUFM
Aric Hermelin (RIS), Worldsource Wealth Management
Brian Himmelman (RIS), Himmelman & Associates Financial Advisors Inc.
Stephen Horwood (RIS), Investia Financial Services
Tyler Iwanson (RIS), Sun Life
Manny Khatra (RIS), Vancity Savings Credit Union
Cheryl Kirschman (RIS), Credential Securities
Sajan Kunnambath (RIS), Connect First Wealth
Debbie LaFleur (RIS), Meridian Credit Union
Eric Lampron (RIS)
Raphael Lapalu (RIS), Sun Life
Mélanie Lemay (RIS), Caisse Desjardins du Nord du Lac-St-Jean
Maxwell Lepa (RIS), Aviso Wealth
Joseph Allan MacDonald (RIS), CU Financial Management
Adam Malcolm (RIS), IG Wealth Management
Sidharth Malhotra (RIS), DUCA Financial Credit Union
Nelson Martins (RIS), Sintra Wealth Inc.
Brian McOstrich (RIS), Aviso Wealth
Danielle Michaud (RIPC)
Brett Morden (RIS), Invesco Canada
Tayler Mullen (RIPC), Credit Union Wealth Management with Aviso Wealth
Yali N’Diaye (RIPC)
Paul Neto (RIPC), Avisio
Dale Nguyen (RIS), Coast Capital Wealth Management
Chi Nguyen (RIS), Coast Capital Savings
Josselyn Marie Nichols (RIS), Investia Financial Services
Vickie Normandeau-Halde (RIS), Desjardins
Timos Patterson (RIS), Libro Credit Union
Mathieu Poirier (RIS), Investia services financiers
Karim Rajan (RIS), CREDENTIAL ASSET MANAGEMENT
Julia Raseta (RIPC), Avisio
Joel Robinson (RIS), NEI Investments
Chantal Rodigue (RIS), EPV Services Financiers inc.
Emma Rowatt (RIS), Fidelity Investments Canada
Michael Rubinstein (RIS), Rubinstein Financial Management
Mary Jill Saunders (RIS), Investia Financial Services Inc.
Adam Christopher Seeto (RIS), Sterling Mutuals Inc.
Farhan Siddiqui (RIS), Meridian Credit Union
Dylan Spence (RIPC)
Adrianna St. Denis (RIS), Vancity Credit Union
Cortni Stothers (RIS), Meridian Credit Union
Katherine Strobl (RIS), CIBC Private Wealth
Nicky Tahil (RIS), RBC Dominion Securities
Deborah Taylor (RIS), Investia Financial Services Inc.
Rae Tench (RIS), CU FINANCIAL MANAGEMENT
Anthony Thérien (RIS), Desjardins
Donald L. Thierry (RIS), Investia Financial Services Inc.
Sophie Touchette (RIS), Caisse Financial Group
Xin Wang (RIS), Amerity Wealth Management Inc.
John Willis (RIS), Meridian Credit Union
Jessica Youwe (RIPC)

Many advisors expressed concerns about greenwashing and lack of standardization

TORONTO – January 20th, 2022 – The vast majority of Canadian financial advisors are comfortable discussing environmental, social and governance (ESG) issues with clients, but advisors’ knowledge of the subject matter is limited, according to a new survey from the Responsible Investment Association (RIA). 

The 2021 RIA Advisor Opinion Survey, which is based on a Newcom Media poll of 539 financial advisors in Canada, found that 85% of the advisors surveyed said they’re very or somewhat comfortable starting a conversation about responsible investment (RI), which refers to investments that incorporate ESG issues. However, the results show that advisors’ knowledge of the subject is low, as only 6% of respondents correctly identified 3 true statements out of 10 statements about RI. Moreover, some advisors appear to be overestimating their knowledge, as nearly one-fifth of advisors who claimed to have excellent or very good knowledge of RI failed to correctly identify any of the 3 true statements about RI in the same assessment. 

The survey, sponsored by Mackenzie Investments, NEI Investments and Vancity, found that environmental issues top the list of concerns for advisors’ clients. In a year that saw an international focus on net zero emissions and climate change at COP26, 84% of advisors reported that environmental topics are the most important ESG issues among their clients.

Many advisors shared concerns about RI, which may be preventing them from initiating RI-related conversations. For example, 81% of respondents expressed concern about greenwashing, and 74% expressed concern about lack of standards. Many advisors left comments indicating that standardization around responsible investments would help them to overcome these concerns.

“We are encouraged to find that so many advisors are willing to have a conversation about RI with their clients,” said Mary Robinson, Director of Research and Membership with the RIA. “But this research also shows that education is critical. Many leading advisors have taken the leap and undergone formal training in RI, and we hope this research encourages many more to do so.” 

“We are proud to be the lead sponsor of the RIA’s inaugural Advisor Opinion Survey. Financial advisors play a significant role in Canada’s financial systems by ensuring the financial health of Canadian investors,” said Fate Saghir, Senior Vice President, Head of Sustainability at Mackenzie Investments. “We need to understand the challenges and opportunities that exist for advisors in incorporating responsible investing into their client conversations. We are thankful to all the respondents to the survey; the insights reinforce the much-needed work required to further awareness, understanding, and adoption of responsible investments.”

“We’ve known for a long time just how important it is for advisors to have informed, meaningful RI conversations with their clients,” said Frederick M. Pinto, SVP and Head of Asset Management at Aviso Wealth, the parent company of NEI, “That’s why we’ve stepped up our efforts to help them incorporate RI into their businesses and deliver unique RI insights. They shouldn’t have to do this alone.”

“With interest in sustainable investing growing and more products entering the market to meet demand, advisors must be able to guide their clients competently and with confidence. This is why all of Vancity’s advisors complete the Responsible Investment Specialist (RIS) designation through the RIA,” said Joe Reid, Vice President, Wealth Management and Impact Investing at Vancity. “We are pleased to support the RIA on this research which provides valuable insights for advisors and investment firms.”

Highlights:

• 85% of advisors said they’re very or somewhat comfortable starting a conversation about RI, while 15% indicated they’re not comfortable doing so.
• Among advisors who have discussed ESG or RI with clients, 37% reported that they usually initiate the conversations, while 32% indicated that the client does so, and 31% said that they and their clients start these conversations equally.
• 94% of advisors who said their RI knowledge is excellent or very good also said they are comfortable starting RI-related discussions. In comparison, only 35% of advisors who described their knowledge as poor said they are comfortable taking the lead.
• Some advisors appear to be overestimating their knowledge. Advisors’ demonstrable knowledge was similar regardless of their self-assessed knowledge levels. Of those advisors who said their RI knowledge was excellent or very good, one-fifth did not correctly identify 3 true statements out of 10 statements about RI.
• 84% of advisors reported that environmental matters (such as climate change, biodiversity, and toxic waste) are the most important ESG issues for their clients.
• Advisors who have discussed ESG or RI with their clients cited various reasons, including client interest (41%), the desire to make suitable investment recommendations (25%), their sense of fiduciary duty (12%), and to distinguish their practice and services (12%).
• Many advisors also shared concerns about RI, which may be preventing them from initiating RI-related conversations. For example, 81% of respondents expressed concern about greenwashing, and 74% expressed concern about lack of standards. Many advisors left comments indicating that standardization around responsible investments would help them to overcome their concerns.

View the full report here.

About the RIA Advisor Opinion Survey
The RIA published the 2021 RIA Advisor Opinion Survey to better understand the RI landscape among Canadian financial advisors. The survey is based on data collected by Newcom Media from 539 Canadian financial advisors in September, 2021. For the purposes of this research, “financial advisor” includes the following categories: “financial advisor” (68% of respondents), “investment advisor / full-service broker” (25% of respondents), and “advisor with a bank branch / trust company / credit union” (7% of respondents). All respondents reported being registered with at least one regulator. The results are considered accurate to within +/-3.5%, with 90% certainty. 

About the Responsible Investment Association (RIA)
The RIA is Canada’s industry association for responsible investment (RI). The RIA aims to drive the growth and development of RI in Canada, with a vision to align capital with sustainable and inclusive development as codified in the Paris Agreement and the UN Sustainable Development Goals. The RIA’s membership includes asset managers, asset owners, advisors, and service providers. Learn more at www.riacanada.ca.

Media Contacts
Nick Buccheri
Director, Operations
Responsible Investment Association
+1 416-461-6042

Toronto, Ontario – January 18, 2022 – The Responsible Investment Association (RIA) is pleased to announce the appointment of Patricia (Pat) Fletcher as incoming Chief Executive Officer, effective February 7, 2022. Patricia will succeed former CEO Dustyn Lanz, following a successful four-year tenure in the role and eight years of service to the organization.

“The past few years have been a transformative period for responsible investing and for the RIA. Our organization has demonstrated strong momentum of growth in terms of membership, staff and meaningful industry impact,” said Roger Beauchemin, Board Chair, Responsible Investment Association. “Pat brings the proven leadership skills and experience needed to help the RIA advance and build on that momentum. My fellow Directors and I welcome her as CEO and look forward to working with her and the broader team to achieve the RIA’s mission and vision.”

Patricia joins the RIA most recently from the Institute of Corporate Directors (ICD) where she served as Vice President, Education, and previously held senior roles at the Canadian Institute, the Hay Group and the Institute for International Research. She is an accomplished executive in the corporate governance and continuing education industries with more than 20 years of experience in leading commercial information businesses and teams committed to creating content that is impactful and of value, combined with a track record of growing revenues and optimizing operations for success.

“There are few more dynamic conversations than sustainable finance and the role capital can play in Canada’s just transition to a net zero economy,” said Patricia Fletcher, incoming RIA CEO. “I am thrilled to be joining the RIA and working with the membership, leadership team and board to lead the organization during this exciting phase of market development and growth.”

The RIA’s leadership transition is taking place following several years of membership and program growth. Patricia will lead the RIA team towards continued success in pursuit of the RIA’s mission to grow responsible investment (RI) in Canada by advancing the policy and regulatory environment, deepening industry education, and supporting market development, as presented in its five strategic priorities:

• EDUCATE – Promoting RI education for the industry and the broader market.
• CATALYZE – Catalyzing market development and promoting market integrity.
• ADVOCATE – Advancing a policy/regulatory environment that is conducive to RI.
• BUILD – Building its brand and reputation as the hub and leading voice for RI in Canada.
• GROW – Growing its financial and human capital resources to strengthen its capacity.

About the Responsible Investment Association (RIA)

The Responsible Investment Association (RIA) is Canada’s industry association for responsible investment (RI). The RIA aims to drive the growth and development of RI in Canada, with a vision to align capital with sustainable and inclusive development as codified in the Paris Agreement and the UN Sustainable Development Goals. Our members include asset managers, asset owners, advisors, and service providers who support these objectives. Learn more at www.riacanada.ca. 

Media Contacts
Nick Buccheri
Director, Operations
Responsible Investment Association
+1 416-461-6042

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Fornia Lau (RIS), Aviso Wealth
Selina Liang (RIS), Vancity
Gaurav Ahuja (RIS), Vancity
John Allen (RIS), R. Howard Webster Foundation
Ethan John Aquilina (RIS), Clay Seabrook Insurance Agency Ltd
Howard Arcand (RIS), Investia Financial Service
Gilbert Audesse (RIS), Sun Life
David Badley (RIS), Credential Securities
Mohamed Ben Dhiab (RIS), Desjardins
Martin-Guy Bernier (RIS), Valeurs mobilières Desjardins
Josée Bilodeau (RIS), Services Financiers 3E3 inc
Gregory Blomqvist (RIS), AGF Investments
Jordan J Bokhorst (RIS), Affinity Wealth management
Éric Boucher (RIS), GFM Groupe Financier
Kay E. Brown (RIS), WFCU Credit Union
Duncan Brownlee (RIAC), RBC Dominion Securities
Julie Cabana (RIS), Gestion Financière Lanoie inc.
Ashley Cameron (RIPC)
Alison Cannell (RIS), Investia Financial Services Inc
Kim Chafee (RIPC), Addenda Capital
Isabelle Charette (RIS), Charette Assurances et Services Financiers
Jay Christensen (RIAC), Valley First a division of First West Credit Union
Jay Christensen (RIPC), Valley First a division of First West Credit Union
Doug Christopher (RIS), Martin Christopher Investments/Investia
Chad Chubaty (RIS), Prospera Credit Union
Michaela Clarke (RIS), Vancity Credit Union/Credential Asset Management
Jonathan Collins (RIS), NEI Investments
Chad Corbett (RIS), Meridian
Jonathan Cormier (RIS), Desjardins
Gavin Coscarella (RIS), Volpe Financial Solutions
David Coulombe-Lévesque (RIS), Groupe Financier Millénium Inc.
Sarah Crone (RIS), Aviso Wealth
Lisa Cruickshank (RIS), Desjardins
Mackenzie Dasti (RIS), Donald R. Dasti & Associates (Investia Financial)
Stéphane Déry (RIS), Investia Financial Services
Jonathan Déry (RIS), Tauro Services Financiers Inc
Peggy DeVries, (RIS), Edward Jones
Diego Di Tolla (RIS), Carruthers Financial
Martin Drapeau (RIS), Lafond Services financiers
Chadric Dreise (RIS), Desjardins Insurance
Charles Duchesne (RIS), Apogée Groupe financier
Brandina Enns (RIS), Prospera Credit Union
Martin Eret (RIS), Volpe Financial Solutions
Diana Frizell (RIS), Coast Capital Wealth Management
Marquis Gagnon (RIS), Travailleur autonome via investia
Esthel Gilbert (RIS), Univesta
Olivier Girardeau (RIAC), Autorité des marchés financiers
Olivier Girardeau (RIPC), Autorité des marchés financiers
Troy Gorrill (RIS), Focused Financial Planning
Yvan Goulet (RIS), Services financiers Yvan Goulet
Brendan Gratton (RIS), Sun Life Financial
Ashley Hamilton (RIS), Unity Credit Union
Riaz Haniff (RIS), Volpe Financial Solutions
Paul Heinrichs (RIS), Prospera Credit Union
Ross Hopmans (RIS), Investia Financial Services
Rajeev Kumar Jha (RIS), Vancity
Nina Johnson (RIAC), CIBC
David Jones (RIS), Assante Wealth Management
Mohammed Sami Kabli (RIS), Credential Asset Management
Anisha Kakria (RIS), Vancity
Anta Kebe (RIS), Desjardins, Caisse de limoilou
Waseem Khan (RIS), Worldsource Securities Inc.
Nami Kim (RIS), Prospera Credit Union
Joel King (RIS), CI Global Asset Management
Lorne Kronish (RIS), Assante Wealth Management
Quenton Lam (RIS), Meridian Credit Union
Robert Lando (RIS), L.S. Financial Services Inc.
Sabryna Lapointe (RIS), Investia / Lafond services financiers
Laurent Lapointe (RIS), Valeurs Mobilières Desjardins
James Lebrun (RIS), Sun Life Financial
Mason Leite (RIS), Martin Christopher Investments
Ashton Liang (RIPC)
Amber Lundin (RIAC), Meridian – Credential Asset Management
Josh MacLean (RIS), IPC Securities Corp.
Josée Mailloux (RIS), MICA CAPITAL INC.
Jordan Martel (RIS), Investia Services Financiers Inc.
Brent Martin (RIS), Martin Christopher Investments / Investia
Jibin Jiji Mathew (RIS), Chad Dreise Insurance & Financial Services Inc.
James McCormick (RIAC), Valley First a division of First West Credit Union
James McCormick (RIPC), Valley First a division of First West Credit Union
Michael Milton (RIS), RBC-DS
Apryl Milward (RIS), LIFECYCLE FINANCIAL
Manon Morency (RIS), Valeurs mobilières Desjardins
Romain Morize-Robb (RIS), Vancity Credit Union / Credential Asset Management Inc.
Amber Morrison (RIS), Investia Financial Services
Marilyne Morrow (RIS), Morrow Services Financiers inc.
Jamieson Brandon Murray (RIS), JM Financial Services
Richard Bruce Nickerson (RIAC), Assante Capital Management Ltd.
John Ong (RIS), Ong Financial Planning Services Ltd.
David Ong (RIS), Investia Financial Services Inc
William Orr (RIAC), Avisio
Aimee Palmer (RIPC)
Philip Picado (RIPC)
Darryl Quimby (RIS)
Nik Rajput (RIS), Servus Credit Union
Robby Rasoda (RIS), WSCU
Vaishagi Ravendran (RIS), Meridian Credit Union
Wade Rayner (RIS), Prospera Credit Union
Chad Reif (RIS), AAM Financial
Anne Rhéaume (RIS), Services Financiers Anne Rhéaume Inc.
Ross Ripley (RIS), CU Financial Management
David Roloson (RIS), Investia Financial Services
Sheena Sanders (RIAC)
Andrek Satkunarajah (RIS), Assante Capital Management Ltd.
Alexei Schwartzman (RIS), Schwartzman Financial Corp
Climerio Silva (RIS), Groupe Financier Millénium Inc.,Services d’investissement Quadrus ltée
Pierre-Michel Simard (RIS), Groupe Simard Serv. Fin. inc
Jean-Guy St-Onge (RIS), Investia / Lafond services financiers
Steven Tessier (RIS), MICA Capital
Carolin Thériault (RIS), MICA CAPITAL INC.
Haley Thompson (RIS), Rock Thompson Financial Planning
Michel Trépanier (RIS), Valeurs mobilières Desjardins
Constant Tzournavelis (RIS), IA Groupe financier et Investia
Lukas Vitalijus (RIS), Vancity (Vancouver City Savings Credit Union)
Brett Volpe (RIS), Volpe Financial Solutions
Michael Volpe (RIS), Volpe Financial Solutions
Charlene Wallis (RIS)
Theresa Wever (RIS), Wever Financial
Tom Wile (RIPC)
Christopher Wright (RIS), Vancity Savings
JIA WEI DAVID Yan (RIS), Vancity Credit Union
Janice Yang (RIS), Vancity Credit Union
Dylan Young (RIS), Desjardins
Sarah Zuckermann (RIS), Valeurs mobilières Desjardins

Majority of investors surveyed believe companies need to take action against climate change and partner with Indigenous Peoples on decisions around a future energy transition.

TORONTO – December 8, 2021 – The vast majority of Canadian retail investors are concerned about climate change and want to see climate action reflected in their portfolios, according to a new survey from the Responsible Investment Association (RIA).

The 2021 RIA Investor Opinion Survey, which is based on an Ipsos poll of 1,000 individual investors in Canada, found that 85% of respondents agreed that Canadian corporations should set goals for their businesses to achieve net-zero emissions by 2050, and 78% agreed they would like a portion of their investment portfolio to be invested in companies that are providing solutions to reduce carbon emissions.

In a year that saw the emergence of a national dialogue on reconciliation, the survey found that 70% of respondents want Canadian companies in their portfolio to partner with Indigenous Peoples on decisions around a future energy transition.

The survey, sponsored by AGF Investments Inc. and Desjardins Group, also shows that 77% of respondents said they want their financial services provider to inform them about responsible investments that are aligned with their values, while only 27% said they had ever been asked if they were interested. About one-third of respondents said they currently own responsible investments, similar to last year.

“This research sends a clear message: Canadian investors want Canadian companies to align their businesses with a net zero future,” said Dustyn Lanz, CEO of the RIA. “It also shows that individual investors remain largely underserved by their advisors when it comes to responsible investing. There is a huge market opportunity for advisors who are willing to talk to their clients about sustainability issues.”

“For the transition to be just, it is critical that Indigenous voices be part of the decision process for the benefit of all Canadians,” said Mark Sevestre, Senior Advisor and Founding Member, National Aboriginal Trust Officers Association (NATOA).

“We are encouraged that the findings of this year’s survey indicate that Canadian investors are knowledgeable and supportive when it comes to the energy transition,” said Judy Goldring, President and Head of Global Distribution, AGF Management Limited. “As a leader in the development of sustainable investing, AGF is committed to providing solutions that support the transition to a more sustainable economy.”

“The survey clearly shows that Canadians want to take control of the impact their investments have on the environment,” said Éric Landry, Vice-President, Investment Solutions at Desjardins. “The financial industry can and must play a crucial role to educate and empower investors to make choices that align with their values and the needs of our environment and society – a goal that Desjardins has been working toward for more than 30 years.”

Highlights:

• 85% of respondents agreed that Canadian corporations should set goals for their businesses to achieve net-zero emissions by 2050.
• 70% of respondents reported that they want Canadian companies in their portfolio to partner with Indigenous Peoples on decisions around future energy transitions.
• An overwhelming number of respondents (85%) expressed concern about climate change and the environment.
• 80% of respondents would like their fund manager to encourage Canadian corporations to reduce their carbon emissions.
• 78% of respondents said they would like a portion of their investment portfolio to be invested in companies that are providing solutions to reduce carbon emissions.
• While 77% of respondents said they want their financial services provider to inform them about responsible investments that are aligned with their values, only 27% said they had ever been asked if they were interested. About one-third of respondents said they currently own responsible investments, similar to last year.
• Knowledge levels about RI are gradually improving over time. 69% of respondents said they know little to nothing about RI, including 20% who have never heard of RI. This is an improvement from last year when 75% said they knew little to nothing about RI, including 29% who had never heard of RI.
• Overall interest in RI is holding steady, with 73% of this year’s respondents expressing interest in RI. Interest among older investors showed a meaningful increase in interest compared to last year.

View the full report here.

About the RIA Investor Opinion Survey
The RIA publishes the RIA Investor Opinion Survey annually to track individual investors’ perspectives on responsible investment and various environmental, social, and governance (ESG) issues. The 2021 Survey is based on data collected by Ipsos from 1,000 Canadian individual investors between September 13th and 16th, 2021. Investors are defined as individuals who currently own investments such as mutual funds, exchange-traded funds, stocks, bonds, or other securities. The poll has a Bayesian credibility interval of ±3.5%.

About the Responsible Investment Association (RIA)
The Responsible Investment Association (RIA) is Canada’s industry association for responsible investment. The RIA’s membership includes asset managers, asset owners, advisors, and service providers who support its mandate of promoting responsible investment in Canada’s retail and institutional markets. Learn more at www.riacanada.ca.

Media Contacts
Nick Buccheri
Director, Operations
Responsible Investment Association
+1 416-461-6042

Highlights from Q3 2021

• For the twelve months ending September 30, 2021, close to one-half of all responsible investment (RI) funds domiciled in Canada outperformed the average return in their respective asset class categories.
• Estimated net asset flows to Canada-domiciled RI funds in 2021 so far have been significantly positive. In the third quarter, flows totalled $2.2 Billion, comparable to the second quarter.
• Fourteen new RI funds were launched in the third quarter, of which 10 were active products and 4 were passive/indexed products. Year-to-date, 63 new funds have launched compared to 46 new funds in all of 2020.

RI Fund Performance

According to data provided by Morningstar, close to one-half (48%) of all Canadian RI funds (including RI mutual funds and ETFs) outperformed the average return in their respective asset class category during the 12-month period ending September 30, 2021. During the third quarter, a smaller proportion (44%) of Canadian RI funds outperformed their average asset class return.

Canadian RI funds performed well over the medium- to long-term periods reviewed in this report, relative to the average return of their asset class peers. As of September 30, 2021, 63% of the RI funds out-performed their average asset class return over the previous three years, and a similar percentage (65%) outperformed their average asset class return over the previous five years. One-half (51%) of the RI funds outperformed their average asset class return over the ten years ending September 30, 2021.

The following charts provide a quick overview of notable RI fund performance relative to their asset class peers, in the third quarter of 2021 and over longer time periods.

Canadian Equity

In the Canadian Equity fund class, the average RI fund return slightly lagged the overall average return in the third quarter 2021. Over two-thirds (70%) of RI funds outperformed the average asset class return over the 12-month period ending September 30, 2021. The majority of the RI funds in this category outperformed their average asset class returns over their respective 3-year, 5-year and 10-year periods reviewed in this report.

Global Equity

In the Global Equity fund class, a majority of the RI funds outperformed the average asset class return in the third quarter of 2021. For the 12 months ending September 30, 2021, 53% of the RI funds in this category out-performed the average asset class return. Three-quarters of the RI funds in this category outperformed the average asset class return over the 3-year and 5-year periods, and over half of the RI funds outperformed the average asset class return over the 10 years ending September 30, 2021.

US Equity

In the US Equity fund class, while the average RI fund under-performed the average asset class return in the third quarter of 2021, a majority of the RI funds outperformed the average asset class return over the 12 months ending September 30, 2021. In the 3-year period reviewed in this report, 80% of the RI funds in this category outperformed the average asset class return, and two-thirds of the RI funds outperformed the average asset class return over the 5 years ending September 30, 2021.

Global Equity Balanced

In the Global Equity Balanced fund class, one-half of the RI funds outperformed the average asset class return in the third quarter. While one-quarter of the RI funds out-performed the average asset class return over the 12 months ending September 30, 2021, 76% of the RI funds outperformed the average asset class return over the 3-year period. The majority of the RI funds out-performed the average asset class return over the five-year period reviewed in this report.

Note: For the purpose of this report, RI funds include those that are marketed as responsible investments with RI strategies/policies disclosed in regulatory documents. Average asset class return includes RI and non-RI funds. Only the oldest share class of RI funds were included in the analysis against category averages. Returns for periods greater than one year are annualized.

RI Fund Flows

Net asset flows for Canada-domiciled RI mutual funds and ETFs, estimated by Morningstar, continued to be strongly positive in the third quarter of 2021. Total estimated flows amounted to $2.2 Billion for Q3, bringing year-to-date flows to $9.7 Billion.

Canadian RI Mutual Fund and ETF Estimated Net Flows, Active & Passive

Source: Morningstar Direct. Data as of September 30, 2021. Excludes fund of funds.

RI Product Launches

According to Morningstar, a total of 14 RI funds launched in the third quarter of 2021, of which 10 were active funds while 4 were passive or indexed funds. A total of 63 RI funds have been launched in the first 9 months of 2021, already well ahead of the 46 RI funds launched in 2020.

Canadian RI Mutual Fund and ETF Launches, Active/Passive

Source: Morningstar Direct. Data as of September 30, 2021.

Download Q3 2021 Highlights PDF.

RIA Members can download the full report by logging in to their account and accessing Member Resources.

Data provided by

©2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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Disclosure
The information contained in this report is for educational and general information purposes only. The information contained herein does not constitute advice nor does it constitute an offering of securities or any advertisement for the offering of securities. You should not act or rely on the information without seeking professional advice. While we believe the information to be reliable [and endeavour to keep the information up to date and correct], we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, timeliness, suitability or availability with respect to the report or the information, products, services or related graphics contained in the report for any purpose. The RIA does not endorse, recommend or guarantee any investment products listed in the report.

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Cory Baker (RIAC), Island Savings
Jean Pierre Beauchamp (RIS), Assante Wealth Management
Aryane Beaulieu (RIS), Gestion financière Assante
Brigitte Bélanger (RIS), services financiers Primerica
Clinton Black (RIS), Alterna Savings and Credit Union Ltd.
Heather Borrelli (RIS), Assante Wealth Management
Olivier Brasseur (RIS), CI Assante Capital Management Ltd.
Mark Bromilow (RIS), Vancity Credit Union
Patrick Carson (RIS), Aligned Capital Partners
Rahul Chawla (RIS), self-employed
Nick Childs (RIS), Sunlife
Johanne Claveau (RIAC), Financiere Banque Nationale : Groupe Claveau Gestion de patrimoine
Martin Côté (RIS), Services Financiers Martin Côté inc.
Tracy Cousins (RIS), SunCu Financial Services Inc
Peter D’Arcy (RIS), Vancity Credit Union
Nathalie Dubé (RIS), Service Signature Desjardins
Jean-François Dubuc (RIS), Solutions Financières Global inc
Mike Eckstein (RIS), RBC Global Asset Management
Patricia S. Eddington (RIS), Libro Credit Union
Albert Elmaleh (RIS), Assante Wealth Management
Brian Elson (RIS), Credential Securities / Westminster Savings Financial Planning Ltd
Dave Ferland (RIS), Magestra Groupe financier
Lisa-Kim Francoeur (RIS), Services Financiers BBF inc.
Kevin Gregory (RIS), Investia
Christophe Guendaz (RIS), Placements Manuvie Inc.
Jean Hage-Chahine (RIS), Alliance Services Financiers
David Helwig (RIS), Meridian Credit Union
Jennie Huard (RIS), Cabinet de services financiers Huard & associés
Jaimie Jacklin (RIS), Royal Bank of Canada
Steven Kronish (RIS), ASSANTE FINANCIAL MANAGEMENT LTD.
Mordechai Kuhnreich (RIS), Nour Private Wealth
Matthew Lahoud (RIS), WFCU Credit Union/Credential Asset Management Inc.
François Laneuville (RIS), Desjardins
Heatley Liang (RIS), Vancity
Liette Massé (RIS), Banque Nationale Assurances
Michael McKnight (RIS), Meridian Credit Union & Credential Securities Inc.
Shannon McMannis (RIS), Investia
Adrian Montoya (RIS), Alterna Savings and Credit Union Ltd.
Philippe Morin (RIS), Investia Services Financiers INC.
Joanick Myrand (RIS), Myrand Services Financiers inc
Slavica Nasevski (RIS)
Carol Nichols-Tremblay (RIS), Assante Capital Management
Alina Nicolau (RIS), Gestion de Fonds Férique
Dominic Noel (RIS), Investia Financial Services
Marie Phillips (RIS), Meridian/Credential Asset Manager
Ralph Plant (RIS), Latitude Financial Services Inc
Jeffrey Poirier (RIS), Canadian Heritage Wealth & Estate
Richard Poulin (RIS), BMO Global Asset Management
Chris Rafuse (RIS), CI Assante Wealth Management
Hannah Roberge (RIS), Fidelity Investments Canada ULC
Jeremy Rock (RIS), Alterna Savings and Credit Union Ltd
Malee Rubinstein (RIS), Investia Financial Services Inc
Gaëtan Sahal (RIS), Manulife
Zachary Sikorski (RIPC)
Shamini G Somasundram (RIS), Vancity Credit Union
Ognjen Todorovic (RIS), Fidelity Canada
Benoit Tremblay (RIS)
Timothy Winter (RIS)
Sheng Bo Xie (RIS), Vancity Credit Union

Citing their fiduciary responsibility, 36 institutional investors managing $5.5 trillion in assets have signed a new Canadian Investor Statement on Climate Change. The Statement, signed by asset management divisions of five of Canada’s largest banks along with major institutional investors such as the Ontario Pension Board, calls on companies to act on material climate risks including through their industry association and lobbying activities.

Coordinated by the Responsible Investment Association (RIA), the Statement also makes clear the actions major Canadian investors will take to advance the global pursuit of net zero ahead of the most important climate gathering in history – COP26.  This includes disclosing their financed emissions and setting an expectation that their investees will establish emissions targets and report on their progress.

“By centering reconciliation and a just transition, this statement adds a Canadian perspective that is missing from the global conversation,” says Dustyn Lanz, RIA CEO. “The signatories recognize that Canada’s path to net zero depends on a transition that leaves no one behind and supports the transformation of every sector, while aligning itself with Indigenous rights for self-determination.”

RIA worked closely with the Reconciliation and Responsible Investment Initiative (RRII) in the development of the Statement to ensure Indigenous perspectives are incorporated into the Statement. “Despite Indigenous Peoples often being the first and most affected by the climate crisis, Indigenous perspectives and voices are often left out of investors’ decision-making on climate action,” says Mark Sevestre, Founding Member of NATOA. “This raises the stakes of the transition to a low carbon economy for Indigenous Peoples. For the transition to be just in Canada, Indigenous Peoples’ rights and perspectives need to be centred and prioritized.”

Like their counterparts across the world, Canadian investors are also sending an unequivocal message to companies and governments that disclosure is key to maintaining and growing private investment in the low-carbon transition of our industries. “For the investment community, clear, comprehensive, comparable data isn’t a nice to have, it’s a must,” says Lanz.

“Ultimately, this is an invitation from Canadian investors to Canadian businesses to navigate this transition together,” explains Lanz. “The investment community is stepping up its game, so that the business community steps up theirs.”

The Statement remains open to additional investor signatories and Lanz expects this list will continue to grow as we approach a “tipping point” for sustainable finance momentum in Canada.

To learn more and read the full statement visit: https://www.riacanada.ca/investor-statement-climate-change/

The RIA would like to thank Jamie Bonham, Rosa van den Beemt, Delaney Grieg, Maia Becker, Susan Golyak and Reconciliation and Responsible Investment Initiative (RRII) for their individual contributions to the Statement.

Quotes from Signatories  and Supporting Organizations

“Institutional investors manage their clients’ assets, yet they are also in a position to play a key part in the quest for net zero emissions by 2050. As COP26 approaches, the financial industry should spare no effort in underscoring the urgency of the situation and in helping to prevent irreversible damage to the environment. The Canadian Investor Statement on Climate Change allows us to put this crucial matter in the spotlight.” Roger Beauchemin, Chair of the Board, RIA and President and CEO of Addenda Capital

“Collaboration across the institutional investment community is essential to driving change, as we seek a just transition to a net-zero economy. As an asset manager and investor, and steward of our clients’ assets, RBC Global Asset Management uses stewardship to communicate our views and expectations with issuers on climate actions, outcomes and disclosures. We look forward to our continued partnership with the RIA and other like-minded investors on this important initiative.” – Maia Becker, Director, Corporate Governance and Responsible Investment, RBC GAM

“The Canadian Investor Statement on Climate Change sends an important message to the Canadian business community that climate change poses a systemic risk to the Canadian economy, and as investors, we are hopeful that the businesses we invest in put forward credible plans to achieve net zero carbon emissions by 2050.” – Priti Shokeen, Head of ESG Research and Engagement, TDAM

“As Canadian investors, we recognize the importance of transitioning Canada to a low-carbon economy in a way that is just and informed by Indigenous perspectives. BMO GAM has a long history of active involvement in global climate initiatives, and we are pleased to show our support through this statement alongside many of our Canadian peers. We look forward to continuing to advance climate action in our investments, engagements, and industry.” – Nalini Feuilloley, Head of Responsible Investment, BMO GAM

“At Desjardins, the climate crisis is a top priority because we’re committed to ensuring the well-being of our communities, now and in the future. That’s why we’re joining forces with members of Canada’s financial industry to speed up the transition to a low-carbon economy. Our day-to-day operations are already carbon neutral. Our goal now is to achieve net zero emissions by 2040 in our procurement and lending activities and our own investments in 3 key carbon-intensive sectors: energy, transportation and real estate.” – Guy Cormier, President and CEO, Desjardins Group

“BCI is committed to seeing our clients capitalize on opportunities for value creation while mitigating the physical and transition risks associated with climate change. The Canadian Investor Statement on Climate Change represents another important step in making clear our expectations of the companies in which we invest while reinforcing our commitment to supporting the transition to a lower-carbon economy.”  –  Gordon J. Fyfe, CEO and CIO, British Columbia Investment Management Corporation (BCI)

“There is no simple or easy path to net zero, but we have to combine forces and harness our energies for the journey. This statement represents that collective ambition. NEI Investments is proud to be a signatory to the Canadian Investor Statement on Climate Change, and we look forward to working with our peers to drive progress toward a net-zero future.” – Jamie Bonham, Director, Corporate Engagement, NEI

See the full list of signatories here.

About the Responsible Investment Association
The Responsible Investment Association (RIA) is Canada’s industry association for responsible investment. The RIA’s membership includes asset managers, asset owners, advisors, and service providers who support its mandate of promoting responsible investment in Canada’s retail and institutional markets. Learn more at www.riacanada.ca.

Media contact
Ashley Kenley
Argyle PR for Responsible Investment Association
akenley@argylepr.com
647-967-9324