04 Jan LJG Advisor Stephen Whipp Recognized as Early ESG Innovator
By Dustyn Lanz
Can we get a round of applause for the early innovators who paved the way for ESG in Canada?
While responsible or “ESG” investing is new to the mainstream spotlight, it’s been around for decades and I would like to acknowledge the innovators and early adopters who had the vision and boldness to advocate for a more responsible way of investing at a time when very few were listening.
Leede Jones Gable advisor Stephen Whipp, CFP, RIAC was engaging his clients on ESG long before the term “ESG” even surfaced. Stephen recently told me stories about how the early RIA/SIO Conferences had 25-50 people – and 50 was considered a big one!
Moira Hutchinson and Bill Davis led the Taskforce on Churches and Corporate Responsibility, which was founded in 1975. The Taskforce led a campaign to divest from South Africa to help end apartheid and laid the foundation for socially responsible investment (SRI) in Canada.
In 1986, Vancity launched the first SRI fund in Canada which now lives on with NEI Investments. Acuity launched the Clean Environment Fund in 1991, which now lives on with AGF Investments. Credit unions like Desjardins, Kindred Credit Union and others helped build the SRI industry throughout the 90s.
In the mid-90s, Deb Abbey was the first advisor to focus exclusively on SRI, and in 2001 she launched Real Assets as the first asset management firm focused solely on SRI. She later led the RIA from 2013-17.
Robert Walker led the SIO (RIA’s predecessor) in the 90s and helped raise the profile of shareholder engagement as a tool for driving corporate sustainability during his time at NEI. Eugene Ellmen led the SIO in the 2000s, building a community through events, education, and advocacy.
In 2000, Gary Hawton led the launch of Meritas SRI funds, offering a unique approach to impact investing with 2% of each funds’ assets allocated to community development.
Peter Chapman worked with Moira and Bill at the Taskforce, and in 2000 he was the founding Executive Director of SHARE. Peter led SHARE to become the preeminent nonprofit org. offering shareholder engagement services.
Daniel Simard played a leadership role in growing ESG in Quebec’s institutional market and helped establish the PRI’s first subnational network of signatories.
In 1992, Michael Jantzi launched a research firm from his apartment. Perhaps you’ve heard of it? It’s now called Sustainalytics. I’ve heard stories about Michael carrying binders down Bay Street, knocking on doors and talking about ESG issues. At a time when SRI was focused on exclusionary screening, Michael’s team developed what is now known as “positive screening” or “best in class” which ushered in a new era of market development in the transition from “SRI” to “RI” and “ESG.”