A U.S. movement against environmental, social and governance investment principles hasn’t deterred investors in Canada, according to a survey of 40 institutional investors in the country managing a combined $5.8 trillion in assets. (The Logic)

Talking point: The survey from ESG consulting firm Millani found that in some cases, the pushback has prompted Canadian investors to deepen their responsible investing practices. For that reason, most respondents said the backlash is actually healthy for the industry in the medium to long term. The findings follow a shareholder resolution filed at some of Canada’s largest banks urging them to ease up on environmental commitments. The proposal garnered little support. Millani’s survey showed that investors seem more concerned about complying with new EU sustainable finance disclosure requirements and the need for a Canadian taxonomy to define what qualifies as green and transition assets.