The writer is the former Chief Executive of UK Finance
What is not to like about a digestible 200-page book that offers the reader power to “help to combat climate change and feel a sense of control in an uncertain world”? When I cannot even get my local council to deliver the special bags required to take away the recycling generated by a family of five living in London under severe Covid restrictions, power is what I need.
The premise of Investing to Save the Planet is that most FT readers have that power as they are likely to have some savings, pension or other investments at their disposal. In common with many readers, I have struggled to make sense of how I can ensure my savings are not only used in line with my risk appetite but also how my potential investment universe can be filtered to exclude companies that do not take their wider societal responsibilities seriously enough. If I could identify this filter, do I have to accept lower potential returns?
As Alice Ross — an FT journalist — puts it, in charting the history of so-called responsible investing, “everyone in finance is waking up to the fact that climate change is going to change the world, so we better change our investment portfolios as well”. There must surely be some irony intended by the author in the first part of her statement?
Chronicling this awakening, perhaps real but certainly needed, she guides readers — the retail as opposed to institutional investors — through the increasingly confusing range of acronyms and labels that have sprung up: ethical investing, SRI (socially responsible investing), PRI (The UN’s Principles for Responsible Investment), TCFD (Taskforce on Climate-Related Financial Disclosures), GHG (greenhouse gases, not a hedge fund), ICE (internal combustion engine, not a financial marketplace) and so on.
Offering a primer to socially responsible investing, Ross focuses on the environmental, as opposed to social or governance, aspects of ESG investing. If the hard-nosed professional investment community is taking it seriously, she argues, then retail investors should feel more confident that the trends likely to cause “significant reallocation of capital” (per Larry Fink, chief executive of BlackRock in January 2020) might not just be self-promoting “greenwash” but could be a source of investment returns delivered in a climate-friendly manner.
She attempts to offer something for even the most inexperienced investors. The difference between equities, bonds, venture capital, angle investing, impact investing and philanthropy are explained in the context of their role in tackling climate change. The role of billionaires (not, presumably, Ross’s target audience) is covered and in so doing perhaps reveals the author’s preoccupations — “however one may feel about whether billionaires should be allowed to exist, they do have a role to play in energy transition”. And, “more modern billionaires are trying to use their wealth to help find solutions — though it would probably help their image if they took fewer private jets along the way”.
The book tackles the twin themes of divestment and engagement as tools available to investors and their pension adviser and or fund manager proxies. Over several anecdotal chapters, Ross explores energy investing and the energy transition under way, green transport, the food revolution and the circular economy. In each case, a simple summary of how the retail investor can engage with them by risk appetite is provided — I will be thumbing these chapters again as new ideas emerge on my personal climate change radar. Her focus on stories involving individuals, companies and ideas ensures the themes explored are approachable.
The critical role of government and standard setters, and of international collaboration and co-ordination, provides the final chapter. So much hinges on effective and joined-up thinking at this level — could “building back better” post-Covid really become the global rallying cry that accelerates united and effective inter-governmental action?
Ross’s book is a helpful aid that should leave the reader with a greater sense of what they can do (including take professional investment advice, which her book does not profess to offer) to take some personal control of the climate agenda.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
