Make Real-world Change Happen With Your Dollars

If you're looking to make a positive social and environmental impact on the planet, there's a growing number of ways you can do so with your money.

One of the fastest-growing areas of investment is impact investing, which aims to generate positive, measurable social and environmental impact along with a financial return, the Globe and Mail reports.

There are three main categories of impact investing: sustainable investing, socially responsible investing, and investing with an environmental, social, and governance (ESG) focus.

"All these categories are subjective, and the whole space is ambiguous," says Mike Dragosits, portfolio manager at Ontario's Harvest ETFs.

For example, some investors and funds steer clear of tobacco, weapons, and fossil fuels, while others think of impact investing as inclusionary, meaning companies in any sector can be included as long as they have a positive social or environmental impact.

One example of a positive social impact: Microsoft.

The tech giant plans to be carbon negative by 2030, and by 2050 aims to remove from the environment all the carbon they've emitted since they launched in 1975.

Another example: Bell, which last year issued Canada's first social impact bond in health.

Investors can invest in several asset classes, including mutual funds, ETFs,

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