Canadians see financial benefits of going green, Investors Group poll finds
Winnipeg, MB – October 4, 2007: An overwhelming 82 per cent of Canadians plan to change their behaviour and adopt green practices, according to the findings of a new poll commissioned by Investors Group. They are especially interested in “going green” if it will save them money.
Sixty-three per cent would be willing to spend up to $10,000 in changes to their homes to reduce annual energy costs by 25 per cent. Eight per cent would invest up to $25,000 to achieve this goal, while five per cent would do whatever it costs.
“Canadians are looking at the cost of going green and realizing that a financial investment in lifestyle and behaviour changes can have positive impact on both the environment and their pocketbooks,” said Dan McClure, co-manager with Keith McLean, of Investors Group SummaTM Fund, the country’s largest socially responsible investment (SRI) fund. “Our research suggests that the majority of Canadians now view environmental best practices as being practical and financially astute, as well as the right thing to do.”
The findings substantiate learnings from other Investors Group research that revealed Canadians have been changing their behaviour and examining household expenses because of higher energy costs. In a poll released in June 2007, two-thirds of Canadian adults (69 per cent) said they are already avoiding the use of air conditioning or lowering the thermostat in winter to reduce the use of energy.
Canadians also thinking about longer-term green investments
The new poll also found that “green-thinking” Canadians are looking beyond short-term investments that have tangible impact on their pocketbooks, to longer-term financial planning opportunities. More than three-quarters (76 per cent) of Canadians agree that investing in alternative – also known as renewable - sources of energy is the morally right thing to do. Significantly, 64 per cent say that investing in alternative energy is a good investment choice with potential for good returns.
These strong convictions are reflected in the positive buying intentions of investors. Forty-four per cent of those who currently hold alternative energy investments plan to increase their holdings. Among Canadians who don’t have investment portfolios and do not currently hold any alternative energy investments, 17 per cent are considering purchasing some.
“Clean, alternative energy sources are becoming increasingly desirable and attractive,” said McClure. “This is because worldwide energy demand is expected to increase by more than 50 per cent in the next 25 years and there is growing awareness of environmental issues.”
Sector represents uncharted territory for some investors
Despite their intentions, more than half (53 per cent) of Canadians with investment portfolios do not currently hold any alternative energy investments. Significantly, one-in-three (34 per cent) say they do not know if they hold any alternative energy investments in their portfolio at all.
“The sector is still relatively new to many investors and represents uncharted territory,” said McClure. “Like any other investment opportunity, investors should be looking for diverse, fundamentally sound players with the potential for growth and profits.”
A total of 2,055 surveys were completed with Canadian adults between September 4th and September 13th 2007, using the Harris Decima online panel. A sample of 2,055 respondents provides estimated proportions that are accurate to within, at most, ± 2.2% at the 95% confidence level. That is, 95 times out of 100, the real value of the variable in the total population will lie within ± 2.2% of the estimated proportions provided by the sample. One time out of 20, the real value of the variable in the population will fall outside this range.
Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of over 4,100 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and banking services. Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada’s premier financial services companies with over $124 billion in total assets under management.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Investors Summa Fund is available through consultants of Investors Group Financial Services Inc. and Investors Group Securities Inc.
TM Trademark owned by IGM Financial Inc. and licensed to its subsidiary corporations.
| For more information contact: | ||
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| Ron Arnst Media Relations (204) 956-3364 ron.arnst@investorsgroup.com |
Teresa Pagnutti Environics Communications (416) 969-2721 tpagnutti@environicspr.com |
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