Want to reach millennials? Starting a conversation about impact investing might be your ticket, according to a study by American Century Investments. Thirty-two percent of millennials, those aged 20 to 37, are familiar with the concept of “impact investing,” where capital is used to finance projects and companies focused on measurably and positively impacting society. Compare that with just 17 percent of baby boomers, those aged 54 to 72.
In fact, 54 percent of all respondents, not just young professionals, found social impact to be important in their investing decisions, an increase of 12 percentage points from 2 years ago. “This research shows that interest in impact investing continues to grow,” said Guillaume Mascotto, vice president and head of environment, social and governance investing and investment stewardship at the asset management company. “We’re committed to offering solutions for those seeking to have a positive impact on society by investing in companies whose business activities are focused on addressing global issues, adhering to the United Nations’ Sustainable Development Goals (SDGs).”
Worthy causes for those interested in impact investing were topped by healthcare and disease mitigation, with a third of respondents listing it as a priority. That was followed by a broad catch-all category of “environment/sustainability, improved education, mitigating poverty and alignment with religious principles,” according to the study. Animal rights and veterans issues were lower in ranking.