Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
Category Archives: Fintech Opinions
Insights from Jamie Dimon’s 2024 Letter to Shareholders
Markets and Economy | April 15, 2025
Image: Jamie Dimon, Chairman and CEO, JP Morgan Chase
Jamie Dimon’s 2024 Letter Outlines Global Risks and Advice for Leaders
On April 7 2025, CEO Jamie Dimon of JPMorgan Chase published his annual 2024 letter to shareholders (58 page PDF), which is widely read by business and policy leaders around the globe. This year's edition, his messages are especially urgent. He describes a world of rising risks, and big decisions ahead with profound implications that stretch beyond simply Wall Street. Below are 5 insights that fintech founders, investors and Canadian decision makers need to know:
1. The U.S. Dollar’s Strength is At Risk
“History has shown that as countries become weaker, their currency loses reserve currency status.”
Dimon issued a clear warning that's rarely said out loud by execs of America’s biggest banks. That is the U.S. dollar’s global dominance is fading because it's strength relies on TRUST in U.S. institutions, alliances, and policy, BUT that trust is now eroding.
Last week, the U.S. dollar dropped significantly reaching a 3 year low against major global currencies. The decline is largely due to the Trump administration's escalating tariffs and trade tensions on imports from several countries, such as China, Canada and European nations. Tariffs led to increased market volatility, shaking investor confidence in American economic policies.
See: Ottawa Unleashes Policy Blitz to Support Economy
The WSJ published a report with the former Treasury Secretary, Janet Yellen, saying that investors "seem to be shunning dollar assets". Previously, for the past several decades, investors flocked to buy U.S. dollars during times of volatility and economic uncertainty because it was considered stable and safe.
American risks or lack of trust in its institutions is now prompting countries like Germany who hold 1200 tonne of their US gold reserve on American soil, to verify the existence of their gold and begin repatriating it back to Germany in case assets are suddenly frozen or risks spiral out of control. And they aren't the only country with concerns.
For Canada, this might open a window. If global capital starts looking for stable alternatives, Canadian institutions can position themselves as reliable partners. Our political stability and sound financial regulations are competitive assets. This is a moment to invest in confidence including the platforms and tools fintechs are building.
2. What Happens If the Free Ride Ends?
Dimon spells out just how much the U.S. benefits from being the world’s reserve currency:
“Being the reserve currency saves the United States $100 billion a year at current interest rates... People around the world actually carry approximately $2.5 trillion of paper U.S. dollars, which, in effect, is borrowing without paying interest.”
However, the U.S. being the global reserve currency isn't sustainable without continued global trust. For financial technology firms offering multi-currency accounts, global payments, and crypto on-ramps, this new reality is an opportunity.
See: Stablecoins Are Growing Faster Than You Think
If the dollar loses its unique place in the global system, financial firms will need to design for a world where volatility is the norm. That could mean hedging tools, stablecoins backed by liquid and diversified reserves, and tokenization of various assets could see a boost akin to gold, or a digital version of it.
3. A Weakened Financial System at Risk
“The U.S. deficit remains very large at just below $2 trillion, or 6.6% of GDP,” and warns that the “debt-to-GDP ratio is already over 100%.”
The U.S. government has borrowed nearly $11 trillion since the pandemic. The total U.S. federal debt is more than $34 trillion, which is greater than 100% of GDP. He says this is a structural issue and that America's fiscal path is on unstable footing. When debt continues to rise with no end in sight, global confidence wavers.
While in a different situation, Canada is under economic pressure from Trump's tariffs and trade war, persistent decline in productivity, and lower growth and foreign direct investment compared to many of its peer countries. It must restructure its own policies to support a fiscal agenda that supports innovation, digital infrastructure, supply chain and trading partner diversification, interprovincial trade, and green transitions that put Canada on a new path of economic growth. Canada can offer to the world what the U.S.'s current administration is turning, it's back against, a well managed democracy, and a country with ample resources (including human capital) that's serious about the future.
4. Fragmentation Could Break the System
One of Dimon’s strongest warnings is about fragmentation.
“Economic fragmentation from our allies may be disastrous in the long run… Keeping our alliances together, both militarily and economically, is essential.”
He’s not just just talking about political division but economic ones, such as trade wars, competing currencies and trading blocs, and digital standards that no longer align with alliances that underpin and support U.S. markets in the way they do today. A world where economic cooperation breaks down and different countries build their own separate systems for money, trade, and technology - leading to incompatible digital standard and higher costs while opening the door for bad actors to take advantage of new weak links in the system. It could also encourage allies to rally around a new financial power for stability.
See: Digital Export Trends and Global Trade Fintech Opportunities
For fintechs and Canada, it's a risk and opportunity. It means building our own rails, compliance protocols, and digital ID systems that work across borders. The more neutral, resilient, and standardized Canada's digital infrastructure becomes, the more relevant it is globally.
5 Pieces of Management Advice from Diamon's Playbook
In his letter to shareholders, Dimon shares lessons from decades of experience fro leading through crisis, transformation, and growth.
1. He warns that innovation can be smothered by too much money, too little clarity, or endless process. For startups, that’s a reminder to stay scrappy and experimental.
“You can kill innovation with too many resources, too few resources or bureaucracy… Evaluate innovative ideas through testing and learning rather than rote analysis.”
2. He also challenges the usual advice about delegation for mission-critical areas like cybersecurity, talent, or trust, and says leaders should get into the details.
“I changed my mind. I’m going to micromanage this one… In my entire career, I’ve rarely seen this kind of outsourcing of responsibility succeed.”
3. Don’t hide behind weak benchmarks.
See: Canadian Fintech Booms with $9.5B Despite Global Slump
4. Don’t sit through bad meetings, but "if a meeting is required, make it count… I ALWAYS do the pre-read… This has to stop: people checking notifications, texting, reading email. It’s disrespectful. It wastes time.”
5. In uncertain times, discipline is more powerful than vision alone.
Conclusion
The status quo is no longer. As geopolitical and economic risks take over, it's more pressing than ever for Canada to grow trust, build bridges, and invest in innovation with a strong economic growth mandate. Canada's fintech and financial ecosystem, can still thrive in a fragmenting world. We can't outspend superpowers but we can out-think them.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
Support NCFA by Following us on Twitter!Follow @NCFACanada  |
Win Free Tickets to Consensus 2025! NCFA Pitch the Future Contest
Consenus 2025 | April 7, 2025
🔥 NCFA Ticket Giveaway Campaign 🔥 Win a Free Pro Pass to Consensus Toronto 2025!
NCFA Canada is excited to be an official Community Partner for Consensus Toronto 2025, happening May 14–16 at the Metro Toronto Convention Centre. Produced by CoinDesk, Consensus is the world’s most influential gathering of leaders in blockchain, crypto, Web3, and digital finance—bringing together founders, regulators, investors, policymakers, developers, and creators from around the globe.
See: Consensus 2025 Toronto | Spotlight on Canadian Speakers
With the conference just over a month away, we’re celebrating by launching the “Pitch the Future” Ticket Giveaway Contest — your chance to win a FREE Pro Pass (worth $950 USD) and join the action in Toronto alongside thousands of Web3 innovators.
Have a bold idea, future trend, or big vision? Building something cool and want to share it with the world? Tell us why you should be there, and you just might be!
🚀Pitch The Future Contest Details
1. WHEN
The ticket giveaway runs from now until April 30, 2025
2. ELIGIBILITY
To be eligible to participate, follow both NCFA and @consensus2025 on at least one of our social channels like Instagram, X, Facebook or @CoinDesk #Consensus2025 on LinkedIn, depending on where you post your entry.
3. HOW TO ENTER
Post any one of the following (we’re keeping it flexible and fun!):
- 🔮 A bold idea or prediction about the future of Web3, fintech, or crypto
- 🛠️ A quick description of what you're building or working on
- 🙋♀️ A few words on why you want to attend or why you should win a free ticket
Your pitch can be a short video, text post, image, or attachment—we’re open to creative formats!
➡️ Be sure to tag @ncfacanada and @consensus2025 and use the hashtag #Consensus2025.
4. WINNER SELECTION and DISTRIBUTION
- 🎉 Two winners will each receive One (1) Pro Pass to Consensus 2025
- Winners will be announced on May 1, 2025 via NCFA’s website and social channels
- Winners will be contacted privately and must confirm attendance.
- If unconfirmed within a reasonable time, an alternate winner may be selected.
5. 🔁 Social Sharing Best Practices
Help spread the word and support the community:
- Tag @consensus2025 on X
- Tag @CoinDesk on LinkedIn, Facebook, and Instagram
- Use #Consensus2025 in all contest-related posts
- Encourage your network to follow NCFA and Consensus Toronto for future updates
🔔 Don’t Miss Out!
Whether you're building the future, predicting it, or just hungry to be part of it, this is your shot to join the global Web3 community at Canada’s biggest crypto event of the year. Get your post up before April 30, and we’ll see you in Toronto!
See: 🚀 Join NCFA at Consensus 2025 Toronto May 14-16
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Support NCFA by Following us on Twitter!Follow @NCFACanada |
SEC’s Crypto Roundtable Reveals Friction, Few Answers
Crypto Roundtable | March 25, 2025
Image: Freepik
SEC's First Crypto Roundtable A Step Forward, But Not Far Enough
On March 21, 2025, the U.S. Securities and Exchange Commission (SEC) held its first public roundtable focused on crypto. Interim SEC Chair, Mark Uyeda, delivered opening remarks, and started by admitting that the law hasn't kept pace with digital asset innovation.
See: SEC Commissioner Peirce Consults on Crypto Regulations
Uyeda pointed out that U.S. courts can’t even agree on how to apply the Howey Test, a legal rule from 1946 that’s often used to decide if something is an investment contract. Some courts say what happens after someone buys a token matters most. Others say what happens before the sale is enough. This kind of confusion makes it hard for the industry to know what rules to follow. While the SEC's hope is that the roundtable was a first step towards more clarity and a better approach towards regulating crypto, some lawmakers felt that the SEC's first crypto roundtable was a missed opportunity.
Old Questions, Few Answers
Bitcoin.com reported that the discussions were fiery. Some panelists said most crypto tokens are clearly securities. Others argued the old rules don’t fit new technologies.
- John Reed Stark, a former SEC enforcement official said he believes people are buying crypto to make money and as a result they are 'investors' not hobbyists collecting things. He also said that he's even received threats for supporting stronger crypto regulations.
- enjamin Schiffrin, a policy expert from Better Markets, added that many broker websites list crypto assets right next to displaying stocks and bonds, and if that’s how it’s being offered to the public then it doesn’t make much sense to treat digital assets differently.
- Teresa Goody Guillen, a lawyer at BakerHostetler, asked whether or not a legal rule from the 1940's (aka Howey Test) was even the right tool for crypto? She said blockchain isn’t just a new product, it’s a whole new way of doing business, and old rules might not fit.
As illustrated by the comments above, not everyone agreed and there's still no consensus on how to classify digital assets.
A Missed Opportunity for Coordination
A former prosecutor and crypto lawyer Renato Mariotti penned an OpEd for CoinDesk, said the roundtable was disappointing. While he agreed it was better than the SEC’s past approach of regulating by enforcement, he felt the discussion focused too much on old arguments instead of evaluating solutions.
See: SEC Confirms Crypto PoW Mining is Not a Security
He was also quick to point out that the Commodity Futures Trading Commission (CFTC), another key regulator for crypto, wasn't involved at all or even mentioned during the session. As such the SEC missed a chance to contribute ideas that will help shape new crypto laws currently being discussed in Congress.
Outlook
Industry just wants clear rules, and in order to develop them, it's important for the SEC and CFTC to cooperate with everyone at the table. Lessons to learn here. The next roundtable will focus on DeFi and stablecoins, where clarity is also badly needed.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Support NCFA by Following us on Twitter!Follow @NCFACanada |
SEC Confirms Crypto PoW Mining is Not a Security
Regulation | March 21, 2025
Image: Freepik
SEC says Proof-of-Work mining doesn’t fall under U.S. securities laws
On March 20 2025, the U.S. Securities and Exchange Commission's (SEC), Corporate Finance Division, issued a statement making it clear that mining crypto on proof-of-work (PoW) networks like Bitcoin isn’t considered a securities transaction. That includes both solo miners (operators) or if someone is part of a mining pool (pooled miners) operating in the U.S. do not need to register with the SEC.
Howey Test Doesn’t Apply Here
This update from the SEC gives the crypto mining community more clarity about where they stand legally in the U.S. as solo or pooled PoW miners. The message is if you’re earning tokens by providing computational effort to secure a PoW network, that doesn't count as investing in a security.
See: Fidelity Report Insights on Digital Assets in 2025
The reasoning is that the infamous Howey Test (used to help determine whether or not an activity is considered a security), is only a security if profits are expected mainly from another party's managerial or entrepreneurial work. In the case of PoW mining, the reward is derived from the miner's own work/effort and hardware, so the activity is not akin to an investment security.
The same statement applies to mining pools where many miners group together and share computing power to improve their chances of solving cryptographic puzzles to earn block rewards. Even when rewards are split and managed by a pool operator, the SEC said the core activity remains technical and administrative, and as such is not an investment contract.
Pushback from Within the SEC, but Industry Welcomes Clarity
Not everyone at the SEC agrees though. Commissioner Caroline Crenshaw issued a dissenting opinion on the same day, saying the analysis was too broad and should be handled on a case by case basis. She warned that some mining setups could involve passive income arrangements that might still fall under securities rules.
See: Marathon Bitcoin Miner Ventures into Whisky Barrels
Still, most reactions online have welcomed the added legal clarity and Bitcoin advocates see this as a win for decentralization. Some have noted that this may influence policy beyond the U.S. and could help shape mining rules in other jurisdictions, such as Canada.
Outlook
While the statement doesn't alter the environmental debates around PoW, it potentially lowers compliance risks and may encourage investment in mining infrastructure. At the end of the day, 'Crypto miners can keep on digging'.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Support NCFA by Following us on Twitter!Follow @NCFACanada |
Consensus 2025 Toronto | Spotlight on Canadian Speakers
Consensus Toronto | March 13, 2025
Coindesk Announces First Batch of 100 Speakers to Join Consensus 2025 in Toronto May 14-16
CoinDesk's Consensus 2025 is set to take place May 14-16, 2025 at the Metro Toronto Convention Centre in Toronto, Canada. This is one of the largest and most influential blockchain, crypto, and Web3 conferences in the world, bringing together industry leaders, investors, regulators, and innovators to discuss the future of crypto, digital assets, and decentralized finance.
Canadian Speakers Taking the Stage
Canada is a global leader for blockchain innovation. Here are some of of the key Canadian voices taking the stage in May that you won't want to miss:
1. Dean Skurka – President & CEO, WonderFi Technologies Inc.
As the head of WonderFi Technologies, one of Canada’s most well-known digital asset firms, Dean Skurka oversees Bitbuy and Coinsquare, two of the country’s largest cryptocurrency exchanges. Previously serving as President and CFO of Bitbuy, he played a pivotal role in scaling operations and ensuring regulatory compliance.
2. Lucas Matheson – CEO, Coinbase Canada
As the leader of Coinbase Canada, Lucas Matheson is responsible for expanding the crypto giant’s presence in Canada. With prior experience at Shopify, he brings a deep understanding of fintech and digital commerce to the evolving landscape of Canadian digital assets.
3. Anthony Di Iorio – Co-founder, Ethereum & CEO, Decentral Inc.
Anthony Di Iorio is a blockchain pioneer and one of the original co-founders of Ethereum. As the CEO of Decentral Inc., he focuses on decentralized technologies that promote user control and security. He also leads the Andiami project, aimed at decentralizing node infrastructure to enhance blockchain network resilience.
4. Jelena Djuric – CEO & Co-Founder, Noble
As the CEO of Noble, Jelena Djuric is driving innovation in tokenized assets and on-chain financial infrastructure. She is also a co-founder of the Canadian Web3 Council, advocating for regulatory clarity and the growth of Canada’s blockchain ecosystem.
5. Danish Ajmeri – Director of Product, Crypto, Wealthsimple
At Wealthsimple, one of Canada’s largest fintech firms, Danish Ajmeri oversees crypto product development and plays a crucial role in making digital assets more accessible to mainstream investors.
6. Adam Cai – CEO, Virgo.co
As the CEO of Virgo.co, a regulated Canadian cryptocurrency exchange, Adam Cai is focused on bridging traditional finance with digital assets, ensuring compliance while expanding access to crypto trading.
7. Scot Johnson – CEO, Digital Shovel
Scot Johnson leads Digital Shovel, a Canadian firm specializing in mobile mining infrastructure, providing modular and scalable solutions for crypto mining operations worldwide.
8. Earl Mai – CTO, ePIC Blockchain Technologies
A leader in blockchain infrastructure, Earl Mai is the CTO of ePIC Blockchain Technologies, helping advance high-performance computing solutions for digital asset mining and decentralized applications.
9. Pascal St-Jean – President & CEO, 3iQ Corp
As the CEO of 3iQ Corp, Pascal St-Jean leads one of Canada’s largest digital asset investment firms, managing crypto-based investment funds that are publicly traded.
10. Ken Sim – Mayor of Vancouver
As Mayor of Vancouver, Ken Sim is at the forefront of blockchain policy discussions, supporting fintech innovation while fostering regulatory clarity for digital asset companies in Canada’s fintech capital.
11. Don Tapscott – CEO, The Blockchain Research Institute
A world-renowned blockchain strategist, Don Tapscott leads the Blockchain Research Institute, where he works with governments and enterprises to advance blockchain adoption across industries.
Why Attend Consensus 2025?
With over 20,000 attendees expected, Consensus 2025 will feature sessions on tokenization, decentralized finance, artificial intelligence in Web3, and the evolution of digital assets. Attendees will also have access to:
See: 10 Fintech and Crypto IPOs 2025 – Boom or Bubble?
- Networking opportunities with industry leaders and investors
- Deal making sessions in the Deal Flow Zone
- Exclusive workshops on regulatory frameworks and compliance
- Live product demos and innovation showcases from leading Web3 companies
Save 15% with NCFA
🔗 Register now: https://go.coindesk.com/NCFA
💰 Use promo code: NCFACANADA15 at checkout
Prices are increasing this Friday, March 14 at 4:00PM ET
See You There!
Join NCFA at Consensus 2025! Secure your pass today and be part of the conversations shaping the future of blockchain, crypto, and fintech.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Crypto Regulation | April 15, 2025 Trump Repeals IRS Crypto Reporting Rule. Here's Why Fintechs in Canada Should Pay Attention On April 10, 2025, U.S. President Trump signed a bill cancelling a key IRS crypto reporting rule that would have required decentralized finance (DeFi) platforms to report customer transactions to the tax agency. See: UK FCA Plans Full Crypto Licensing Regime by 2026 The IRS' rule was called "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales", which expanded the scope of traditional broker definitions to include DeFi apps like Uniswap and Metamask, and had an effective date of February 28, 2025. However, the IRS provided a transition period given the reporting complexities involved, so the rule was set to apply to digital asset sales occurring after January 1, 2027. But with Trump's bill nullifying the IRS rule, the implementation is now cancelled and the rule is officially gone. What does this mean for fintechs, crypto startups, and regulators in Canada? What Changed? The IRS crypto reporting rule was part of a broader push to increase tax compliance among crypto users but industry argued that it wasn't manageable because DeFi platforms don't control their user's data. ...
Markets and Economy | April 15, 2025 Jamie Dimon’s 2024 Letter Outlines Global Risks and Advice for Leaders On April 7 2025, CEO Jamie Dimon of JPMorgan Chase published his annual 2024 letter to shareholders (58 page PDF), which is widely read by business and policy leaders around the globe. This year's edition, his messages are especially urgent. He describes a world of rising risks, and big decisions ahead with profound implications that stretch beyond simply Wall Street. Below are 5 insights that fintech founders, investors and Canadian decision makers need to know: 1. The U.S. Dollar’s Strength is At Risk “History has shown that as countries become weaker, their currency loses reserve currency status.” Dimon issued a clear warning that's rarely said out loud by execs of America’s biggest banks. That is the U.S. dollar’s global dominance is fading because it's strength relies on TRUST in U.S. institutions, alliances, and policy, BUT that trust is now eroding. Last week, the U.S. dollar dropped significantly reaching a 3 year low against major global currencies. The decline is largely due to the Trump administration's escalating tariffs and trade tensions on imports from several countries, such as China, Canada and European nations. ...
Financing | April 14, 2025 Plaid’s $575 Million Series D Signals a Deeper Strategy in Fintech Data and Embedded AI Financial infrastructure provider, Plaid, announced on April 3 2025, that they raised $575 million Series D at a valuation of $6.1 billion valuation led by Frank Templeton, BlackRock, Fidelity, and others including existing investors such as NEA and Ribbit Capital. While the valuation is significantly lower than it's 2021 peak of $13.4 billion, Plaid's latest round is a story of consolidation of it's role at the heart of embedded finance, and not of decline. Plaid is a backbone of embedded finance with a footprint that spans more than 8,000 apps, including many widely used fintech tools and providers in Canada and the U.S. For Canadian fintech companies, this raise hints at where industry is heading and who will control its most critical pipes. A Profitable Platform in a Tough Market Unlike most fintech firms still chasing break-even, Plaid finished off 2024 with positive operating margins, strong ash flows and a 25% yoy revenue increase. In Plaid's letter to shareholders, 2025, CEO and Cofounder Zach Perret explained that it has a usage based billing model where Plaid earns revenue when an ...
Leadership | April 14, 2025 Why Embracing Uncertainty Can Help Founders Gain Insight (During Chaos) In an economic climate where geopolitical tensions are high and markets volatile with inflation spikes and policy u-turns, founders and innovators that embrace uncertainty can gain an edge. Uncertainty isn't a side effect of innovation, it's the starting line. Inspired from Deepak Chopra's recent article on the power of uncertainty, this article looks at the impact of embracing the unknown and how it can sharpen decision-making, unlock creativity, and help build resilience during times of rapid change and uncertainty. Key Actionable Insights 1. Uncertainty Isn't the Enemy...It's the Edge Chopra argues that trying to eliminate uncertainty kills creativity. When everything is 'the exact same', it breeds complacency. We've all experienced this. During some routine periods, a founder may feel that time is passing by very quickly. Yet during times of great change, novelty, innovation, a founder may feel that time is going by slowly. Fintech leaders who stay agile during times of ambiguity can separate themselves from those who stall in the face of uncertainty. Put differently, successful founders don't just survive during chaos, they scan for signals of change/chaos that others can miss, often ...
April 14, 2025 If you’re running a crowdfunding campaign, visibility is key. Without the right SEO strategy, potential backers may never find your project. Below is a practical, research-backed guide to improving your campaign’s visibility through SEO. 1. Understand Your Audience First Start by knowing who you’re targeting. This helps shape your keywords, content, and messaging. Build a profile of your ideal backer Use keyword research tools like Google Trends or Ahrefs Read forum discussions and questions from your audience The more specific your understanding, the more relevant your content becomes. 2. Focus on Search Intent, Not Just Keywords Group your keywords based on what users are looking to do: Informational: “how to launch a crowdfunding campaign” Transactional: “support [campaign name]” Navigational: “[brand name] Kickstarter page” Use these keywords naturally in: Headings and subheadings Meta descriptions Blog updates and campaign FAQs Image alt text Write for people first, then optimise for search engines. For more insight into how keyword strategy aligns with intent and structure, consider following this website, which outlines foundational SEO practices that support long-term visibility. 3. Build a High-Converting, SEO-Friendly Landing Page Don’t treat your landing page as just a pitch. Make it SEO-ready: Clear, keyword-rich headline ...
Financing | April 11, 2025 OneVest Secures $20M in Series B to Build the Future of WealthTech in North America On January 29, 2025, Calgary and Toronto-based fintech firm OneVest announced the close of a $20 million Series B round, led by Salesforce Ventures and joined by Allianz Life Ventures, TIAA Ventures, and returning backers like OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners. See: OneVest’s Rapid Expansion Powered by a $17M Funding Round led by OMERS Ventures OneVest estimates that $84 trillion of wealth will be passed down from Baby Boomers to Gen X and Millennials over the coming decades, creating a massive opportunity and challenge for financial institutions. OneVest's platform is positioned to offer financial institutions, such as banks, insurers, asset managers and RIAs, a module tech platform to build or upgrade their wealth management services. Companies ca upgrade outdated infrastructure by plugging in only the components they need, reducing time and cost to market. Amar Ahluwalia, CEO of OneVest: “We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies. Having such esteemed investors solidifies our position to reimagine wealth management technology for enterprises across the U.S. and ...
Regulation | April 10, 2025 SEC Says Some Fully Backed, Payment-Only 'Covered Stablecoins' Aren’t Securities On April 4, 2025, the U.S. Securities and Exchange Commission (SEC) issued a statement that clarified some U.S. dollar-backed stablecoins may not be considered securities. While the statement was welcomed and creates some breathing room for crypto and fintech projects, the announcement ignited an internal debate at the SEC and many are wondering what's next. Covered Stablecoins The SEC said certain U.S. dollar-backed stablecoins (referred to as 'Covered Stablecoins') are not considered securities if they have all of the following characteristics: Stablecoin must maintain a 1:1 fixed value equal to the U.S. dollar, without fluctuations Each stablecoin must be fully backed by an equivalent amount of high quality assets such as U.S. Treasury bills, cash, or cash equivalents that can be redeemed on demand. These assets must be held in custody and verified regularly No expectation of profit - cannot be promoted as an investment or marketed in a way that leads buyers to expect profit from simply holding the token See: U.S. Senate Moves to Regulate Stablecoins No voting rights, control over the issuer, or shares in any profit or management decisions (no governance) ...
Funding | April 10, 2025 Regulation Crowdfunding Markets Show Tariffs Straining Innovation Economy Regulation Crowdfunding (RegCF) has proven to be a resilient market for early stage entrepreneurs and investors alike. When uncertainty strikes, it's often traditional venture capital that pulls back, while the community-driven model continues to offer early stage start-ups access to capital allowing them to innovate. However, just in from Sherwood (Woodie) Neiss, NCFA Advisor and Principal at Crowdfund Capital Advisors, data shows that tariffs are starting to strain RegCF markets - from March 10 to April 9, 2025: RegCF investment volumes declined by 24% (yoy) to just $57.48 million New campaign launches dropped over 40% Number of investor checks also declined by 15% Average capital raise size dropped to $720,000 (from $1.2 million) Sherwood Neiss, Principal at Crowdfund Capital Advisors: “We’re seeing the first real signs of pullback in what has otherwise been a resilient funding ecosystem. The numbers tell a story not of panic, but of pause. Investors and issuers alike are waiting for clarity—on costs, on policy, and on risk.” Tariffs Introduce New Risks for Early-Stage Companies In a volatile environment where U.S. tariffs are levied one day, and then paused the next, founders must now face ...
Economy | April 10, 2025 Trump Temporarily Halts Tariffs for Most Countries But Keeps Pressure on Canada, Mexico, and China On April 10, 2025, President Trump announced a 90-day pause on most of the newly implemented global trade tariffs after market backlash and political pressure. The break was extended to countries in Europe, Asia, and parts of South America, but Canada, Mexico, and China are still under tariff pressure. Strategic Pause, Not for Everyone While Trump paused the most recent tariffs for over 75 countries, U.S. tariffs still apply to Canada and Mexico primarily on cars and auto parts (25%), steel (25%), aluminum (10%), and some agricultural products like dairy, grains, and processed foods, and continue to affect cross border trade in manufacturing and farming sectors. Trump's pause also didn't apply to China In fact, Tariffs on Chinese good were raised to 125%, as China hit back with an 84% tariff on U.S. goods and filed new complaints with the World Trade Organization. See: Klarna Delays IPO As Markets React to Trump’s Tariffs After the tariff pause was announced, markets surged with the S&P 500 exploding 9.5%, the largest one day gain since World War II, according to Business Insider ...
Funding | April 9, 2025 Toronto’s Tailscale Secures $230M and $2B Valuation for Identity-First Networking On April 8 2025, Toronto-based Tailscale announced that they raised $230 million CAD Series C (about $160 million USD), valuing the company at approx $2 billion CAD. The round was made up of U.S. investors, led by Accel, CRV, Insight Partners, Heavybit, and Uncork Capital, along with some prominent individual investors notably George Kurtz CEO of CrowdStrike (returning investor) and Anthony Casalena CEO of Squarespace. New funds will be used to grow product and engineering teams, expand globally, and improved support for fast scaling customers. Tailscale - A Shift from IP Addresses to Identity Tailscale was founded in 2019 by former Google engineers Avery Pennarun, David Crawshaw, David Carney, and Brad Fitzpatrick, and officially launched in April 2020 to help users connect devices and apps securely without relying on traditional VPNs, IP rules, or firewalls. Tailscale uses a technology called WireGuard which is easy to setup and lets devices connect directly to each other, safely and privately. What's unique about Tailscale is its approach to solving networking challenges. Instead of relying on where a device is located (IP address), it focuses on who or what is connecting. This ...
Crypto Regulation | April 15, 2025 Trump Repeals IRS Crypto Reporting Rule. Here's Why Fintechs in Canada Should Pay Attention On April 10, 2025, U.S. President Trump signed a bill cancelling a key IRS crypto reporting rule that would have required decentralized finance (DeFi) platforms to report customer transactions to the tax agency. See: UK FCA Plans Full Crypto Licensing Regime by 2026 The IRS' rule was called "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales", which expanded the scope of traditional broker definitions to include DeFi apps like Uniswap and Metamask, and had an effective date of February 28, 2025. However, the IRS provided a transition period given the reporting complexities involved, so the rule was set to apply to digital asset sales occurring after January 1, 2027. But with Trump's bill nullifying the IRS rule, the implementation is now cancelled and the rule is officially gone. What does this mean for fintechs, crypto startups, and regulators in Canada? What Changed? The IRS crypto reporting rule was part of a broader push to increase tax compliance among crypto users but industry argued that it wasn't manageable because DeFi platforms don't control their user's data. ...
Markets and Economy | April 15, 2025 Jamie Dimon’s 2024 Letter Outlines Global Risks and Advice for Leaders On April 7 2025, CEO Jamie Dimon of JPMorgan Chase published his annual 2024 letter to shareholders (58 page PDF), which is widely read by business and policy leaders around the globe. This year's edition, his messages are especially urgent. He describes a world of rising risks, and big decisions ahead with profound implications that stretch beyond simply Wall Street. Below are 5 insights that fintech founders, investors and Canadian decision makers need to know: 1. The U.S. Dollar’s Strength is At Risk “History has shown that as countries become weaker, their currency loses reserve currency status.” Dimon issued a clear warning that's rarely said out loud by execs of America’s biggest banks. That is the U.S. dollar’s global dominance is fading because it's strength relies on TRUST in U.S. institutions, alliances, and policy, BUT that trust is now eroding. Last week, the U.S. dollar dropped significantly reaching a 3 year low against major global currencies. The decline is largely due to the Trump administration's escalating tariffs and trade tensions on imports from several countries, such as China, Canada and European nations. ...
Financing | April 14, 2025 Plaid’s $575 Million Series D Signals a Deeper Strategy in Fintech Data and Embedded AI Financial infrastructure provider, Plaid, announced on April 3 2025, that they raised $575 million Series D at a valuation of $6.1 billion valuation led by Frank Templeton, BlackRock, Fidelity, and others including existing investors such as NEA and Ribbit Capital. While the valuation is significantly lower than it's 2021 peak of $13.4 billion, Plaid's latest round is a story of consolidation of it's role at the heart of embedded finance, and not of decline. Plaid is a backbone of embedded finance with a footprint that spans more than 8,000 apps, including many widely used fintech tools and providers in Canada and the U.S. For Canadian fintech companies, this raise hints at where industry is heading and who will control its most critical pipes. A Profitable Platform in a Tough Market Unlike most fintech firms still chasing break-even, Plaid finished off 2024 with positive operating margins, strong ash flows and a 25% yoy revenue increase. In Plaid's letter to shareholders, 2025, CEO and Cofounder Zach Perret explained that it has a usage based billing model where Plaid earns revenue when an ...
Leadership | April 14, 2025 Why Embracing Uncertainty Can Help Founders Gain Insight (During Chaos) In an economic climate where geopolitical tensions are high and markets volatile with inflation spikes and policy u-turns, founders and innovators that embrace uncertainty can gain an edge. Uncertainty isn't a side effect of innovation, it's the starting line. Inspired from Deepak Chopra's recent article on the power of uncertainty, this article looks at the impact of embracing the unknown and how it can sharpen decision-making, unlock creativity, and help build resilience during times of rapid change and uncertainty. Key Actionable Insights 1. Uncertainty Isn't the Enemy...It's the Edge Chopra argues that trying to eliminate uncertainty kills creativity. When everything is 'the exact same', it breeds complacency. We've all experienced this. During some routine periods, a founder may feel that time is passing by very quickly. Yet during times of great change, novelty, innovation, a founder may feel that time is going by slowly. Fintech leaders who stay agile during times of ambiguity can separate themselves from those who stall in the face of uncertainty. Put differently, successful founders don't just survive during chaos, they scan for signals of change/chaos that others can miss, often ...
April 14, 2025 If you’re running a crowdfunding campaign, visibility is key. Without the right SEO strategy, potential backers may never find your project. Below is a practical, research-backed guide to improving your campaign’s visibility through SEO. 1. Understand Your Audience First Start by knowing who you’re targeting. This helps shape your keywords, content, and messaging. Build a profile of your ideal backer Use keyword research tools like Google Trends or Ahrefs Read forum discussions and questions from your audience The more specific your understanding, the more relevant your content becomes. 2. Focus on Search Intent, Not Just Keywords Group your keywords based on what users are looking to do: Informational: “how to launch a crowdfunding campaign” Transactional: “support [campaign name]” Navigational: “[brand name] Kickstarter page” Use these keywords naturally in: Headings and subheadings Meta descriptions Blog updates and campaign FAQs Image alt text Write for people first, then optimise for search engines. For more insight into how keyword strategy aligns with intent and structure, consider following this website, which outlines foundational SEO practices that support long-term visibility. 3. Build a High-Converting, SEO-Friendly Landing Page Don’t treat your landing page as just a pitch. Make it SEO-ready: Clear, keyword-rich headline ...
Financing | April 11, 2025 OneVest Secures $20M in Series B to Build the Future of WealthTech in North America On January 29, 2025, Calgary and Toronto-based fintech firm OneVest announced the close of a $20 million Series B round, led by Salesforce Ventures and joined by Allianz Life Ventures, TIAA Ventures, and returning backers like OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners. See: OneVest’s Rapid Expansion Powered by a $17M Funding Round led by OMERS Ventures OneVest estimates that $84 trillion of wealth will be passed down from Baby Boomers to Gen X and Millennials over the coming decades, creating a massive opportunity and challenge for financial institutions. OneVest's platform is positioned to offer financial institutions, such as banks, insurers, asset managers and RIAs, a module tech platform to build or upgrade their wealth management services. Companies ca upgrade outdated infrastructure by plugging in only the components they need, reducing time and cost to market. Amar Ahluwalia, CEO of OneVest: “We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies. Having such esteemed investors solidifies our position to reimagine wealth management technology for enterprises across the U.S. and ...
Regulation | April 10, 2025 SEC Says Some Fully Backed, Payment-Only 'Covered Stablecoins' Aren’t Securities On April 4, 2025, the U.S. Securities and Exchange Commission (SEC) issued a statement that clarified some U.S. dollar-backed stablecoins may not be considered securities. While the statement was welcomed and creates some breathing room for crypto and fintech projects, the announcement ignited an internal debate at the SEC and many are wondering what's next. Covered Stablecoins The SEC said certain U.S. dollar-backed stablecoins (referred to as 'Covered Stablecoins') are not considered securities if they have all of the following characteristics: Stablecoin must maintain a 1:1 fixed value equal to the U.S. dollar, without fluctuations Each stablecoin must be fully backed by an equivalent amount of high quality assets such as U.S. Treasury bills, cash, or cash equivalents that can be redeemed on demand. These assets must be held in custody and verified regularly No expectation of profit - cannot be promoted as an investment or marketed in a way that leads buyers to expect profit from simply holding the token See: U.S. Senate Moves to Regulate Stablecoins No voting rights, control over the issuer, or shares in any profit or management decisions (no governance) ...
Funding | April 10, 2025 Regulation Crowdfunding Markets Show Tariffs Straining Innovation Economy Regulation Crowdfunding (RegCF) has proven to be a resilient market for early stage entrepreneurs and investors alike. When uncertainty strikes, it's often traditional venture capital that pulls back, while the community-driven model continues to offer early stage start-ups access to capital allowing them to innovate. However, just in from Sherwood (Woodie) Neiss, NCFA Advisor and Principal at Crowdfund Capital Advisors, data shows that tariffs are starting to strain RegCF markets - from March 10 to April 9, 2025: RegCF investment volumes declined by 24% (yoy) to just $57.48 million New campaign launches dropped over 40% Number of investor checks also declined by 15% Average capital raise size dropped to $720,000 (from $1.2 million) Sherwood Neiss, Principal at Crowdfund Capital Advisors: “We’re seeing the first real signs of pullback in what has otherwise been a resilient funding ecosystem. The numbers tell a story not of panic, but of pause. Investors and issuers alike are waiting for clarity—on costs, on policy, and on risk.” Tariffs Introduce New Risks for Early-Stage Companies In a volatile environment where U.S. tariffs are levied one day, and then paused the next, founders must now face ...
Economy | April 10, 2025 Trump Temporarily Halts Tariffs for Most Countries But Keeps Pressure on Canada, Mexico, and China On April 10, 2025, President Trump announced a 90-day pause on most of the newly implemented global trade tariffs after market backlash and political pressure. The break was extended to countries in Europe, Asia, and parts of South America, but Canada, Mexico, and China are still under tariff pressure. Strategic Pause, Not for Everyone While Trump paused the most recent tariffs for over 75 countries, U.S. tariffs still apply to Canada and Mexico primarily on cars and auto parts (25%), steel (25%), aluminum (10%), and some agricultural products like dairy, grains, and processed foods, and continue to affect cross border trade in manufacturing and farming sectors. Trump's pause also didn't apply to China In fact, Tariffs on Chinese good were raised to 125%, as China hit back with an 84% tariff on U.S. goods and filed new complaints with the World Trade Organization. See: Klarna Delays IPO As Markets React to Trump’s Tariffs After the tariff pause was announced, markets surged with the S&P 500 exploding 9.5%, the largest one day gain since World War II, according to Business Insider ...
Funding | April 9, 2025 Toronto’s Tailscale Secures $230M and $2B Valuation for Identity-First Networking On April 8 2025, Toronto-based Tailscale announced that they raised $230 million CAD Series C (about $160 million USD), valuing the company at approx $2 billion CAD. The round was made up of U.S. investors, led by Accel, CRV, Insight Partners, Heavybit, and Uncork Capital, along with some prominent individual investors notably George Kurtz CEO of CrowdStrike (returning investor) and Anthony Casalena CEO of Squarespace. New funds will be used to grow product and engineering teams, expand globally, and improved support for fast scaling customers. Tailscale - A Shift from IP Addresses to Identity Tailscale was founded in 2019 by former Google engineers Avery Pennarun, David Crawshaw, David Carney, and Brad Fitzpatrick, and officially launched in April 2020 to help users connect devices and apps securely without relying on traditional VPNs, IP rules, or firewalls. Tailscale uses a technology called WireGuard which is easy to setup and lets devices connect directly to each other, safely and privately. What's unique about Tailscale is its approach to solving networking challenges. Instead of relying on where a device is located (IP address), it focuses on who or what is connecting. This ...
Canadian Tech Open Letter to Defend Diversity & Inclusion
Advocacy | Feb 28, 2025
Image: Freepik/rawpixel.com
A Call to Action for Canada’s Tech Industry - Defending DEI
The Canadian tech industry is facing a critical moment in responding to the push back against diversity, equity, and inclusion initiatives otherwise known as 'DEI'. Almost 1000 tech and innovation founders, executives, and investors have signed an open letter titled "Innovation Includes Everyone" in support of DEI, a initiative spearheaded by Laura Gabor (Ecologicca/What in the Tech), Avery Swartz (Camp Tech), Sarah Stockdale (Growclass), Arlene Dickinson (District Ventures Capital), and Amber Mac (AmberMac Media), among many others, to ensure Canada's tech ecosystem remains inclusive by working together to raise awareness, mobilize support, and advocate for stronger DEI commitments in the tech industry. They believe that diversity drives better ideas, stronger businesses, and a more inclusive economy.
See: Why is venture capital still ignoring women? The case for investing is clear.
There have been concerns raised recently about some of Canada’s largest tech companies quietly scaling back support for marginalized communities such as women, 2SLGBTQIA+ individuals, Black and Indigenous professionals, and newcomers. The open letter calls on the tech community and policymakers to reject efforts that undermine inclusion and to stand firm in support of equity. It emphasizes that Canada’s strength lies in its ability to embrace talent from all walks of life and that businesses should not prioritize profit over people.
Global Trend in Scaling Back DEI
Alarm bells are ringing due to a broader global shift towards policies that weaken protections for marginalized groups. The political climate, especially in the U.S. with the new Trump administration, has created uncertainty around corporate DEI initiatives, leading to some Canadian corporations with U.S. operations adjusting their commitments to avoid potential backlash. Corporations are also under economic pressure dealing with budge cuts. Some businesses are deprioritizing DEI programs citing economic survival. There are even social activist movements arguing against DEI initiatives that are causing some companies to reconsider their approach in the face of potential consumer pushback.
However, despite these rollbacks, public sentiment in Canada remains largely in favour of DEI programs. A 2020 Statistics Canada survey found that 92% of Canadians aged 15 and older agreed that ethnic or cultural diversity is a Canadian value. According to Benefits Canada, a 2023 World 50 Group survey revealed that 72% of business leaders increased their organization's investment in DEI over the past year.
The Best Talent Comes from Inclusive Hiring
A common argument against DEI is the idea of hiring the “best person for the job.” However, finding the best talent is impossible without an inclusive hiring approach. By ensuring diverse candidates are considered, businesses in fact expand their talent pool which leads to higher-performing teams. Multiple studies have found that diverse companies outperform their competitors in revenue, innovation, and employee engagement.
NCFA’s Commitment to Inclusion
The National Crowdfunding & Fintech Association of Canada (NCFA) has always championed inclusion and the underrepresented, advocating for opportunities that empower individuals and businesses alike. Through awareness-building, collaboration, and action, NCFA remains committed to closing gaps and fostering an equitable innovation ecosystem.
See: How Fintechs Are Tackling Financial Inclusion in Canada
A common argument against DEI is the idea of hiring the “best person for the job.” However, finding the best talent is impossible without an inclusive hiring approach. By ensuring diverse candidates are considered, businesses in fact expand their talent pool which leads to higher-performing teams. Multiple studies have found that diverse companies outperform their competitors in revenue, innovation, and employee engagement.
Call To Action
Canada must remain a leader in inclusive innovation. If DEI efforts are abandoned, the industry risks losing what makes it a thriving, world-class tech hub. The letter urges all Canadians to take action by supporting businesses that uphold these values and holding those that don’t accountable. The petition remains open for signatures. Join now by adding your name to the growing list of supporters at What in the Tech?, and collectively let's ensure innovation truly remains whole!
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Support NCFA by Following us on Twitter!Follow @NCFACanada |
How Canadian Institutional Investors Voted on Climate 2024
Climate Report | Feb 27, 2025
Image: 2024 Canadian Climate Voting Record (Investors for Paris Compliance)
Institutional Investors in Canada Show Mixed Climate Commitments
The organization Investors for Paris Compliance recently published their 2024 Canadian Climate Voting Record (14 page PDF report), which tracks how Canadian institutional investors voted on climate-related shareholder proposals. While Canadian investor support for climate resolutions increased to nearly 65% in 2024, there's a global pullback on ESG reporting, making Canada's voting record stand out.
Global Pullback on ESG/Climate Reporting
Canadian investors have shown more support for climate resolutions but globally opinions on ESG investing are becoming more divided.
In the U.S., some states and asset managers are pulling back from ESG commitments due to political and regulatory pressure. According to Business Insider, BlackRock has softened its stance on ESG by removing diversity, equity, and inclusion (DEI) language from key documents, in response to growing criticism from certain investors, however they continue to emphasize sustainability.
In Europe, regulators are also adjusting their approach by proposing to ease sustainability reporting rules to reduce burdens on businesses and improve their global competitiveness. Despite this, many European institutional investors remain committed to net-zero goals.
What Types of Votes Are Taking Place?
The 2024 Canadian Climate Voting Record analyzed how institutional investors voted on climate-related shareholder proposals such as:
- Requiring companies to disclose how climate risks impact their business
- Encouraging companies to set clear, transparent, and scientifically based goals for reducing emissions
- Pushing for measurable actions to reduce carbon emissions and transition to cleaner energy
See: Planetary Health Check 2024 and Canadian Climate Tech
While only 4 climate resolutions were voted on at Canadian companies, Canadian investors voted on many resolutions at U.S. and global firms where they hold shares.
Who and How They Voted?
Some Canadian institutional investors are leading the charge, while others remain cautious.
Image: Summary of 2024 Climate Votes (Investors for Paris Compliance)
The top investors in support of climate shareholder proposals:
- All voted 100% in favour of climate resolutions: AGF Investments, NB Investments, Canada Post Pension Plan, IMCO, University Pension Plan, and NEI Investments
- Strong support: BCI (88.2%) and CDPQ (90%)
Many of Canada’s largest financial institutions had weaker records:
- Moderate support: TD Asset Management (70.6%), Ontario Teachers’ Pension Plan (75%), and CIBC (64.7%)
- Laggards: Manulife (41.2%), AIMCO (41.2%), and BMO GAM (47.1%)
- Least supportive of climate related resolutions: Canada Pension Plan (29.4%), RBC GAM (11.8%), and Scotia GAM (0%)
Select Takeaways
- While only 4 climate resolutions were voted on at Canadian companies, Canadian investors voted on many resolutions at global firms
- One issue that the report highlights is the lack of a unified policy on climate issues resulting in split votes among large asset managers like RBC GAM, Manulife, and Scotia GAM, where different portfolio managers voted inconsistently on the same resolutions
See: Canada’s Shift to Enhanced Climate Disclosures
- Canadian investors were more likely to support climate proposals at U.S. companies (65.8%) than at Canadian firms (55.5%), raising concerns about domestic engagement
Conclusion
With the 2025 AGM season approaching, will Canadian investors push for stronger climate commitments or continue their cautious approach?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
| | |
Support NCFA by Following us on Twitter!Follow @NCFACanada |
