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Government's historic nature investment is producing results, but more needed – Canada NewsWire



OTTAWA, Feb. 20, 2020 /CNW/ – The Canadian Parks and Wilderness Society (CPAWS) released a report today to mark two years since Budget 2018, when the federal government announced the biggest-ever investment in Canadian nature.

The CPAWS report, Government investments bring Canada closer to conservation goals, finds that the historic $1.3-billion investment has stimulated provincial and territorial government efforts, resulting in new protected areas like the 55,000 square-kilometer Peel Watershed in Yukon and twenty-seven new protected areas in Nova Scotia.

The federal investment has also resulted in unprecedented Indigenous-led conservation projects. This includes the newest addition of Thaidene Nëné in the Northwest Territories, which will be governed in partnership with the Łutsël K’é Dene First Nation.

One of the lessons of the past few years is that federal support for nature conservation can be a powerful tool for Indigenous reconciliation”, said Sandra Schwartz, CPAWS National Executive Director.

The CPAWS report also finds that the federal investment has unleashed an equally historic investment by the private sector, ultimately reaching $500 million.

Canada has never seen this level of private investment in nature before,” said Ms. Schwartz. The philanthropic community is helping public dollars go double the distance in some cases”.

However, the CPAWS report also makes clear that the federal governments latest targets, to protect 25% of Canadas lands and freshwater by 2025 and 30% by 2030, will require more investment. Canada currently protects 12.2%, with current projects expected to push that number to roughly 17%.

The Green Budget Coalition, of which CPAWS is a member, has called for $467 million from the federal budget for ongoing nature protection in 2020-2021.

Getting to 25% and 30% wont be easy,” said Ms. Schwartz. We need to keep up this positive momentum”.

The Canadian Parks and Wilderness Society (CPAWS) is Canadas only nationwide charity dedicated solely to the protection of our public land, ocean and freshwater, and ensuring our parks and protected areas are managed to protect nature. Since 1963, we have played a leading role in protecting over half a million square kilometres! Our vision is to protect at least half of Canadas public land and water in a framework of reconciliation – for the benefit of both wildlife and humans.

SOURCE Canadian Parks and Wilderness Society

For further information: Jennifer Scott, National Communications Manager, 613-569-7226 x 234, [email protected]

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NB Investment Awareness Campaign Targets Scam-Prone Millennials – Huddle Today



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SAINT JOHN – Millennials are more prone to lose money in financial scams than their elders.

With years of attention paid to educating older Canadians about protecting their money from fraud, it may be surprising that many younger investors have fallen victim to get-rich-quick pyramid schemes, bogus virtual currencies, and more.

Perhaps equally surprising is how New Brunswick’s financial and consumer services regulator feels Millennials are disinclined to take financial advice from a Crown corporation.

“We know this demographic is notoriously difficult to reach,” says Marissa Sollows, the director of education and communications with The Financial and Consumer Services Commission of New Brunswick (FCNB).

In an interview with Huddle, Sollows cites FCNB’s research, in addition to research coming from other provincial commissions, confirming millennial investors are in some cases at higher risk of falling for poor investment pitches or making decisions without the right financial knowledge.

In the first nine months of 2021, 20 New Brunswickers reported losing nearly $711,000 in crypto investment scams, according to the Canadian Anti-Fraud Centre.

“When we started looking at this situation in New Brunswick, it became clear as we saw different trends in DIY investing and interest in crypto and that this was an audience that we needed to try and reach,” explained Sollows.

Not your parents’ investment landscape

Sollows says Canadian investors in their 20s and 30s approach their finances from a different cultural perspective than their predecessors: research shows they are less likely to want to work with a financial advisor and want more hands-on control over their investments.

But Sollows says there is also fear that they don’t know enough about investing and are worried about losing money.

“To come from a regulator, we sort of recognized it wouldn’t work as well for this audience, who get their information from different sources and who have different levels of trust with those different sources,” said Sollows.

In an effort to respond with something meaningful for the Millennial segment, FCNB designed a new awareness campaign that was outside its traditional outreach.  Where social media has hooked young investors on finance, FCNB decided to put more of its campaign resources on YouTube, Twitter and, for the first time, TikTok.

For Sollows, that meant focusing not just on what channels Millennials were getting their financial information from, but also trying to understand how they were interacting with those they perceived as “experts” and where that financial advice was coming from – whether legitimate registered online trading platforms or somebody purporting to be an expert with a hot tip.

“There’s a much higher level of comfort, with the younger generation, with technology and with putting trust in their peers in these different online forums as opposed to going to a traditional financial advisor that their parents would have had more trust in,” says Sollows.

On Nov. 22, FCNB launched “The Right Recipe,” a new investor education campaign targeting Millennials and do-it-yourself investors with resources designed specifically for them.

FCNB campaign videos serve as explainers on a variety of topics–including fad investing, multi-level-marketing schemes, influencer scams, and high-risk investment products–while reinforcing the steps any investor can take to protect themselves and their money.

Do-it-yourself investing is exploding

Covid-19 lockdowns and uncertainty translated into a meteoric rise of online DIY investment platforms and trading apps, leading many to investment possibilities for the first time at the touch of a button. Others are getting their advice on social media and choosing instead to test unconventional methods. But, as Sollows points out, these often “prey on FOMO” (fear of missing out) on advertised payoffs.

The rise of “finfluencers” (a specific type of influencer who focuses on money-related topics) have made full use of platforms like TikTok, Instagram, and YouTube to get the attention of young investors.  Couple that with Millennials increasingly willing to devote cash on decentralized cryptocurrencies and hot stocks – with much of that advice coming at them through social media – and you’ve got a scene rooted in familiar tones.

Interactive Investor, A UK online investment service published a July survey showing more than half of young investors surveyed in the UK who have purchased cryptocurrency like bitcoin or dogecoin have done so using credit cards, or even student loan money.

More unconventionally, users of Reddit have made headlines swelling into pump-and-dump schemes targeting low-cost stocks for small companies.  Money inflating the value today might be worthless tomorrow on a pre-planned selloff, leaving young investors holding pennies of worthless stock days later.

Trendy concepts like “Impact Investing,” where a company gathers investment intenting to “generate measurable, beneficial societal and environmental impact, alongside a financial return,” have gotten young people to invest money for the promise of helping a greater good, which often leads to confusion and no return for the investor.

“It’s the same old scam,” according to Sollows, who says it’s just wrapped up in different wrapping paper with a different story around it.

“We’ve seen this kind of thing happen with ‘green investing’ in the past when renewable energy and so on was becoming really popular. The scammers would follow the headlines and build pitches around it.”

Financial awareness education is evolving

On the flipside, Sollows says there’s a need to help young investors navigate many of the legitimate online platforms out there. She hopes FCNB can be a trusted resource to help Millennials make some of their first investment decisions, especially when going the DIY route.

“The Right Recipe” depicts a fictional brewmaster who has heard a lot of financial tips over the years.

He’ll tell you that everybody knows someone who’s made a bundle in the markets. He figured if his customers could do it, why couldn’t he? The example allows the user to follow his investment journey, for better or worse, through videos.  That journey is everything from “listening to some rando’s advice on social media” to letting “FOMO be his guide” and blindly “following the latest investment trends.”

In addition to campaigns like “The Right Recipe,” FCNB also offers investment updates and fraud alerts emailed directly to those who sign up on its website and provides a variety of financial literacy topics through both in-person and through virtual presentations. Those sessions are offered to workplaces, classrooms, and the broader community, covering topics ranging from financial literacy and budgeting to investing to fraud prevention.

For navigating the investment learning curve and the possible pitfalls for young investors, Sollows believes the campaign would be a success if people used the information and experience of the brewmaster to instead follow their gut instead of social media when the offer seems too good to be true.

“If you’re being offered some crazy returns on things, and they’re telling you, ‘Oh, I can guarantee you’re going to make this much money and it’s so easy you don’t need to understand it — In any other aspect of your life, if somebody said that to you, would you keep the conversation going or would you walk away saying, ‘No thanks, I’m good.’”

FCNB’s The Right Recipe campaign will run until mid-February, in both English and French on most social media platforms and at:

Tyler Mclean is a Huddle reporter based in Fredericton. Send him your feedback and story ideas: [email protected]

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Don't invest in crypto before a 401(k) or IRA, warns these experts – CNBC



Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

Many investors are pouring their cash into crypto — with the youngest segment making up the majority.

A recent survey by Select and Dynata found that nearly half (45%) of 18- to 34-year-olds say they have purchased crypto. They represent the greatest share of crypto investors, followed closely by 37% of 35- to 44-year-olds. Meanwhile, only 11% of 55- to 64-year-olds and a mere 4% of 65+ investors are buying into the digital currency fad.

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Investors may purchase coins for various reasons, whether it’s with hope of turning a quick profit, the potential for long-term growth or just to get in on the excitement. Some young investors, however, are choosing crypto over investing for their retirement. And herein lies the problem.

The same survey found that 44% of investors who have less than $10,000 in investable assets are currently investing in crypto, but only 26% have a 401(k) or 403(b) and 17% have an IRA.

While cryptocurrencies can certainly be fun, short-term investments, Lindsey Bell, chief markets and money strategist at Ally Invest, doesn’t recommend putting a substantial portion of your portfolio into these assets or forfeiting your retirement fund.

“Investing for the long term should always take precedence over investing for the short term,” she says. “The advantages of a 401(k) or IRA, including a company match, should be pursued before allocating short-term, fun money.”

Here’s what to consider

Tony Molina, a CPA and product evangelist at Wealthfront (the first robo-advisor to offer crypto access — up to 10% of your portfolio), agrees that the eagerness to join the crypto craze shouldn’t get in the way of building long-term wealth for retirement. And it’s even more important if your employer offers a 401(k) contribution match (hey, that’s essentially free money).

But saving for retirement doesn’t need to mean missing out on crypto if that’s something you’re really excited about, Molina says. If you have a 401(k), he recommends you contribute at least up to the amount your employer will match and then think about buying crypto with the extra funds you have leftover. For example, if your company matches up to 6% of your salary, contribute 6% so you’re first doubling what you’re able to put away before you’re strategizing investing elsewhere.

“I’d encourage investors to think of cryptocurrency as one type of asset class they could include in their long-term, wealth-building strategy,” Molina adds. “Crypto shouldn’t necessarily be the main focus of your strategy because of the uncertainty and risk involved, but it can fit into your portfolio overall.”

Crypto investing, though easily accessible through finance apps like Square’s Cash App and PayPal, comes with risks. Most cryptocurrencies and crypto tokens see significant price volatility, which is why it’s seen as a risky choice for many retail investors.

“While it’s easy to get caught up in the hype and potential instant gratification of crypto or other hot asset classes, it’s important to remain grounded in reality as well,” Bell says. “These types of assets are very volatile, and while they are becoming more mainstream, the future around growth and regulation remains uncertain.”

Don’t have 401(k) access to save for retirement?

For those whose companies don’t offer retirement benefits, prioritize opening a tax-advantaged traditional or Roth IRA before setting aside money for crypto.

“An IRA is a great option for saving for retirement because you have a lot of control over what you’re invested in, you may be eligible for some great tax breaks and you can open an account on your own without relying on your employer,” Molina says.

You can find IRA options offered through many national banks, investment firms, online brokers and robo-advisors. Select narrowed down those offering the best IRAs for all types of investors, as well as the best Roth IRAs for growing your money tax-free. Charles Schwab, Fidelity Investments and Betterment made both rankings.

Bottom line

Whether you want to invest in cryptocurrency because it has performed well in the past or because you feel pressure seeing everyone else do it, it’s important to first prioritize your retirement funds. Crypto’s past performance doesn’t necessarily mean it will continue to do well in the future, and FOMO isn’t a solid reason to get involved, warns Molina.

Investors curious about crypto can get the best of both worlds by first contributing enough to their 401(k) to meet an employer’s match, if offered, or funneling funds into an IRA. If you have extra money, then consider buying crypto but make sure you know what you’re getting into beforehand and don’t allocate more than 10% of your portfolio to these risky investments. Remember, diversification is key to a successful investing portfolio.

“Before you go all in on any investment, especially a riskier asset like crypto, make sure you have a logical argument for why you believe that investment will increase in value over time,” Molina adds.

Catch up on Select’s in-depth coverage of personal financetech and toolswellness and more, and follow us on FacebookInstagram and Twitter to stay up to date.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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Western News – Leadership institute receives $3.5-million investment – Western News



Western’s Ivey Business School has received a new $3.5-million gift benefiting the Ian O. Ihnatowycz Institute for Leadership, a character-based leadership development program launched in 2010.

The gift, from Ian Ihnatowycz, his wife, Marta Witer, and the Ihnatowycz Family Foundation, builds on the Ihnatowycz family’s original gift to establish the Institute and will allow it to extend its teaching, research and outreach on the awareness, assessment and development of leader character.

Along with a $2.5-million matching contribution from Western University, part of the funding will create the Ihnatowycz Family Foundation Chair in Leadership, which is jointly appointed with Western Engineering, to bring the programming to engineering students.

The announcement was made at the 2021 Leader Character Conference, where leaders from the public, private and not-for-profit sectors gained a greater understanding of the impact of leader character, particularly in the transition to a post-pandemic world.

“We’re living in a particularly disruptive environment, and it requires strength of character among leaders to lead in this new dynamic,” said Ihnatowycz, MBA’82, LLD’13. “The world needs good leaders – character-based leaders – and what’s really exciting is that we can impact future generations of leaders and improve the communities and societies we live in, and hopefully, the world.”

Sparked by crisis

Ihnatowycz said he founded the leadership institute at Ivey after witnessing deficiencies in leader character during the 2008 financial crisis. The institute aims to examine the importance of character alongside competence in leadership, and how it is developed.

“In that first 10 years of the institute, we discovered and elaborated on what those characteristics of leadership are, why they are important, and – most importantly – that they can be taught. People are not necessarily born with it. Some have more talent than others perhaps, but leader character can be taught and nurtured,” he said. “I’m most proud of the fact that this knowledge is there and has become part of the fabric of the institute and of the Ivey Business School, building its reputation as the leadership school. Hopefully, it expands to other faculties and Western will become the university that is based on leadership.”

Ihnatowycz has also given generously of his time providing guidance to the institute and Ivey, serving on the Ivey Advisory Board since 2010 and the Leadership Council since 2011.

Leader development beyond Ivey

Ihnatowycz’s long-standing relationship with Ivey, including a total investment of more than $7 million in leadership programs, has helped the school become a global leader in research, teaching and outreach on leader character, according to Ivey dean Sharon Hodgson. She said the next step is to explore the development of adaptive and resilient leaders, who can weather unprecedented disruption. Through the new joint chair position, Hodgson said she hopes the gift will expand the programming across campus.

“The chair is an important addition to the institute to accelerate cross-campus sharing with the Faculty of Engineering, with a longer-term objective of inspiring additional faculty and donor involvement in, and support for, leadership programming across campus,” she said. “We sincerely appreciate Ian Ihnatowycz’s unwavering vision for and belief in the work of the institute, and we are excited about its future.”

Creating a legacy

Gerard Seijts, executive director, Ian O. Ihnatowycz Institute for Leadership, said the support of the Ihnatowycz family continues to create a legacy of enormous value.

“They have enabled us to deepen our contribution to Ivey’s student curriculum and extended our outreach to those within the public, private and not-for-profit sectors. Our students, colleagues and clients’ lives are enriched by the opportunities Ian and Marta help to create. We are all sincerely grateful,” he said.

Yudi Yang, an HBA ’22 candidate, experienced firsthand how character shapes the way people engage with the world. Yang participated in the institute’s five-day Leadership Under Fire course last summer that aimed to deepen understanding of the various dimensions of leadership character when under emotional, physical and mental stress. During the announcement, she shared what the course meant to her.

“This unique experience was critical in helping me to re-evaluate and hone my character, and has truly impacted my life in terms of what I notice, what I reinforce, who I engage in conversation, what I value, what I choose to act on, and how I make decisions,” she said. “Without the support of the Ihnatowycz family, none of this would be possible. Thank you for making an investment in our future and the future of the world.”

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