More than three in five millennial investors (62 percent) believe impact investing has greater potential than traditional forms of philanthropy to create long-term positive change, a study from Fidelity Charitable finds.

Based on a survey of 1,216 U.S. investors conducted in July and August 2021, the report, Using Dollars for Change (9 pages, PDF), found that a total of 61 percent of millennials currently participate in impact investing. They also believe in the long-term financial viability of the strategy; two-thirds of millennials say impact investing is a smart investment. Currently, only one-third of all investors engage in impact investing, but 40 percent of non-participating investors will consider making their first impact investment in the coming year, according to the report. And those who have tried it are looking to expand their holdings: 41 percent of current participants plan to increase the amount they allocate to impact investments, and almost none expect to decrease their holdings.

Read the full article about millennial investors at Philanthropy News Digest.