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More money flowed into sustainable investment funds last year than ever before – The Hill

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5 years ago

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Investors are putting their money in funds guided by ethical considerations in record numbers, according to a new report from Morningstar. 

In 2019, these funds took in $20.6 billion in new assets, CNBC reports. This figure is almost four times the 2018 total — $5.5 billion — which previously held the record.

“It really blew past that record,” Jon Hale, head of sustainability research at Morningstar, told CNBC. “This was quite a big surge.”

These so-called environmental, social and governance funds (ESG funds) are mutual funds or exchange-traded funds that select companies for investment based on how those companies’ activities affect the environment, humanity or both. For example, a fund focused on the environmental impacts of its holdings probably wouldn’t own shares of a strip mining company or an energy company focused on fossil fuels.

“I think there are big things happening in the world and economy today that align with this level of interest,” Hale told CNBC. “Climate change, for example, is a big issue that’s of increasing concern for more and more people.”

According to a recent survey, roughly 85 percent of investors are interested in sustainable investing, a 14 percent increase from 2015. Millennials are even more likely to invest sustainably, with 95 percent of young adults expressing interest in the same Morgan Stanley poll. 

There are now around 300 ESG funds, a plethora compared to the sustainable investment options of just three years ago, Hale told CNBC. 

But even with 2019’s record setting year influx of cash, ESG funds comprise less than one percent of the $20.7 trillion held in all U.S. mutual and exchange-traded funds.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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7 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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2 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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