New report: Millennials set to shake up Canada's investment industry
A new report by the Responsible Investment Association shows that Millennials – the generation between 18 and 34 years old – are significantly more likely than previous generations to show interest in responsible investments. Since Millennials are now the largest demographic in North America’s workforce, and are set to inherit more than $30 trillion in the next few decades, responsible investment advisors and RI fund companies are positioned reap the rewards by engaging this emerging generation of investors.
Some key findings are:
- Millennial investors are more than twice as likely as Baby Boomers to be interested in investments dedicated to solving social or environmental problems.
- Millennial investors are 65% more likely than Boomers to consider ESG factors when making investment decisions.
- Millennials are almost twice as likely as Boomers to believe that companies with good social and environmental practices are better long-term investments.
- Millennial investors are more than twice as likely as Boomers to believe that companies with good social and environmental practices can provide investors with better protection against downside risks.
- Women are about twice as likely as men to say they are unsure whether they believe it is important to consider ESG factors.
- Yet women are also more likely than men to believe it is important for advisors to be knowledgeable about RI. RI advisors would benefit from providing women with more information about RI options.
Full report by the Responsible Investment Association