11:30 a.m.
MY WAY OR THE HIGHWAY
Figure out whether your advisor can help you in your pursuit of socially responsible stock
DO YOUR HOMEWORK: KNOW THESE TERMS
ESG: Environmental Social GovernanceYour advisor may refer to ESG, which stands for Environmental Social Governance factors and look at the long term of investment.
“Best in Class”Also called “industry agnostic,” the “best in class” approach singles out and excludes the least responsible players within a certain industry.
Source: Jantzi-Sustainalytcis.
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Paperless Finances
Get Your Bank On
THE TRIP TO THE BANK MACHINE is rarely fun, especially when it spits out a piece of paper confirming your ever-shrinking account balance. But stop to consider the paper evidence of that transaction. Many of us choose to print a receipt almost unconsciously, but that adds up to an estimated 16.5 million trees every year. That’s a whole lot of lumber just to hear you’re broke. Again.But believe it or not, bank receipts are one of the top sources of litter in the world and Canadian forests are paying the price. Along with Russia, Canada has the most forests in the world and the worst track record for clear cutting them: 90 percent of our logging comes from old-growth Boreal trees that take 200 years to regenerate. Every year, a swath of forest larger than Prince Edward Island disappears from Alberta, British Columbia and Ontario. And yet, that recycled icon that pops up on books or tissue dupes us into thinking the paper abundance comes from sustainable or recycled sources. That’s the exception, not the rule.Paper hounds our every move, whether we want it to or not. Tell the cashier you don’t want a receipt – too late, it’s already printed. Remember to say you don’t need cutlery with a take-out order, then find a wad of napkins stuffed in the, gulp, paper bag. Instead, call the shots when you can. Skip the paper receipt at the bank machine or display the balance on screen (not recommended at dodgy street corners late at night, of course). Lose the paper trail with all your financial activities. Electronic tax filing is greener and more accurate anyway. With banks beefing up online security and often reimbursing customers for any losses through fraud, it’s safer than ever to choose Internet banking. With mobile banking catching on to a smartphone near you, the bank machine will soon be out of the picture entirely! Unfortunately, that depressing bank balance might stay the same.
CLEAR-CUT ALTERNATIVESLook for the Forest Stewardship Council (or FSC) mark on all the paper you purchase. This is the most trusted mark of good forest management in the world.Ask your boss to switch to recycled paper at work.Think before you print. If you do hit print, use both sides of the page.Switch to automatic deposit for your paycheque.Purchase tax-filing software and do your taxes electronically.Sign up for paperless credit card, bank statements – and even avoid the mailed bills for magazine subscriptions or gym memberships.Do away with paper cheques by signing up for email money transfer technology.Keep a collection of reusable paper around the house.
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SKIPPING THE PAPER
Source: The Green Book.
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Anyone can
be a Philanthropist
Stretch Your Pennies
THESE DAYS THE WORD “PHILANTHROPIST” is often associated with a Bill Gates billionaire-type bequeathing a mega fortune on multiple charitable causes. But in the dictionary the word still keeps its humble meaning: someone with a love for humanity. At Free The Children we meet philanthropists every day; oftentimes it’s a 12-year-old cradling a jar of hard-won pennies. Soon after, an all-call email gets sent out: “Hey team, who wants to roll pennies this lunch break?” In the non-profit world where a dollar can mean the difference between a child learning in a classroom or working in a field, every penny counts and must be counted! It’s time for us to take back the word “philanthropist.” With the help of a few tried-and-true tips to stretch those pennies further, we can all turn chump change into real change.It’s not always easy, of course, to be a savvy philanthropist. As headlines trumpet the next major disaster or highlight the latest charity scandal, it’s easy to fall into donor fatigue. Then we run the risk of shutting ourselves off from the real need out there. Following a few general rules can help. Before you donate, ask yourself whether an organization is offering systemic change or just a short-term solution. For instance, is it helping the roots of hunger or just filling bellies temporarily? Next, remember that just because you’ve heard a charity’s name doesn’t make it a reliable choice. Charities often get their name out there through advertising or canvassing campaigns that cost thousands or millions of dollars of money that could be helping a real cause. Finally, look for high-touch organizations that make it easy to talk with a real person about where your money is going and who the dollars are helping. There are many ways to ensure your money gets where you want it to go.
MAKE YOUR DOLLAR GO THE DISTANCEMake sure the charity is registered with the Canada Revenue Agency (look for its charity number).A registered charity is not required to provide a donor with an official tax receipt so after providing your name and address, request one and save it for your records.Tax credit rates on charitable donations vary widely between provinces and territories, from Quebec’s 35 percent down to Nunavut’s 19 percent, combining both provincial and federal credits.Raise your donation to over $200 and your tax credit will get a substantial boost across Canada, although the percentage depends on the province.Thinking of making a will or bequest to benefit a cause? Get a lawyer to fill out the forms properly for you, make sure you check the charity’s registration number and include specific directions on how the money can be spent.Attach a note to your donation, specifying exactly who or what the money should help and how. A Canadian charity is under strict obligations to follow that request.Read the organization’s annual report, which should be clearly linked on its homepage. This helps clarify how every dollar is spent.
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ASK BEFORE YOU DONATE
Source: Imagine Canada, Free The Children.
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Creative Donations
Give