An overwhelming 82% of Canadians plan to change their behaviour and adopt green practices, according to the findings of a new poll commissioned by Investors Group. They are especially interested in “going green” if it will save them money.

Sixty-three per cent would be willing to spend up to $10,000 in changes to their homes to reduce annual energy costs by 25%. Eight per cent would invest up to $25,000 to achieve this goal, while 5% would do whatever it costs.

“Our research suggests that the majority of Canadians now view environmental best practices as being practical and financially astute, as well as the right thing to do.” Says Dan McClure, co-manager with Keith McLean, of Investors Group Summa Fund, the country’s largest socially responsible investment (SRI) fund.

The poll also found that “green-thinking” Canadians are looking beyond short-term investments that have tangible impact on their pocketbooks, to longer-term financial planning opportunities. More than three-quarters (76%) of Canadians agree that investing in alternative sources of energy is the morally right thing to do. Significantly, 64% say that investing in alternative energy is a good investment choice with potential for good returns.

These strong convictions are reflected in the positive buying intentions of investors. Forty-four per cent of those who currently hold alternative energy investments plan to increase their holdings. Among Canadians who don’t have investment portfolios and do not currently hold any alternative energy investments, 17% are considering purchasing some.

Despite their intentions, more than half (53%) of Canadians with investment portfolios do not currently hold any alternative energy investments. Significantly, one-in-three (34%) say they do not know if they hold any alternative energy investments in their portfolio at all.

“The sector is still relatively new to many investors and represents uncharted territory,” said McClure. “Like any other investment opportunity, investors should be looking for diverse, fundamentally sound players with the potential for growth and profits.”

A total of 2,055 surveys were completed with Canadian adults between September 4 and September 13, using the Harris Decima online panel.