25116017_m Copyright : Huguette Roe (Follow)

Canadian institutional investors want their portfolio companies to reduce their reliance on single-use plastics, according to a new opinion survey by the Responsible Investment Association.

The majority (81 per cent) of respondents said they believe it’s important for their portfolio companies to reduce plastic waste, while 75 per cent said they’d like to invest in solutions to address the issue.

More than half (58 per cent) of investors also said companies will incur a reputational hit if they continue to rely on single-use plastic, while 70 per cent said companies that reduce the use of plastic will have better long-term investments.

Read: Investment manager releases guide to ending plastic pollution in oceans

In a broader sense, 72 per cent of respondents expressed an interest in responsible investing, up from 60 per cent in the 2018 survey.

However, knowledge of responsible investing continues to lag. About three-quarters (72 per cent) of investors said they know little or nothing about it, which represents some improvement from the 81 per cent that said the same in 2018.

The majority (79 per cent) of investors have expressed interest in the concept, saying they’d like their financial services provider to explain responsible investment options to them. Just 23 per cent said they’ve asked about them.

More than a quarter (26 per cent) said they currently hold responsible investments.

Read: Risks and opportunities for investors as plastics lose popularity

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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