With recent deadly heat waves and wild fires ravaging Canada’s west coast and large-scale flooding in the east, who can ignore the growing risk of extreme weather? Irrespective of efforts to reduce greenhouse gas emissions, extreme weather events, driven by climate change, are projected to increase in frequency, intensity and duration through the 21st century, […]
Canadian pension funds are among the institutional investors participating in Climate Engagement Canada, a new initiative to promote a net-zero economy. The initiative, which is coordinated by several investor networks, is launching with 27 institutional investors that collectively manage more than $3 trillion in assets, according to a press release. The participating pension funds include […]
More than 20 financial organizations in Quebec, including the Caisse de dépôt et placement du Québec and the Public Sector Pension Investment Board, are joining forces to tackle the climate emergency. The initiative, the Statement by the Quebec Financial Centre for a Sustainable Finance, aims to affirm Quebec’s leadership in sustainable finance and the financial institutions’ […]
Bâtirente is introducing a new strategy that seeks to optimize its fixed income, global equity and environmentally responsible investment allocations. The Montreal-based pension’s new fund optimization plan specifically addresses the organization’s main priorities. By implementing the new plan, it will seek to improve its funds’ diversity in fixed income and global equities and focus on […]
The Pension Investment Association of Canada is urging the U.S. Securities and Exchange Commission to adopt new rules mandating enhanced disclosures of climate risks and other environmental, social and governance factors. In a letter submitted by Natasha Trainor, PIAC’s chair, the association said it supports regulatory proposals that would require businesses to disclose more information on […]
A number of Canadian institutional investors, including the British Columbia Investment Management Corp., the British Columbia Municipal Pension Plan, the Caisse de dépôt et placement du Québec and the Investment Management Corp. of Ontario, are among 457 signatories of a statement calling on governments around the globe to take accelerated action to combat the climate […]
The University of Waterloo is committing to reducing the carbon footprint of its pension and endowment investment portfolios by 50 per cent by 2030, with the goal of achieving full carbon neutrality by 2040. “With this new commitment, the university is . . . aligning its investment practices with its teaching, research and operations on climate change, […]
The British Columbia Investment Management Corp. is partnering with the University of Victoria-led Pacific Institute for Climate Solutions to co-develop decision-making tools and frameworks for integrating climate change risk evaluation and climate mitigation opportunities into investment portfolios. “Acting in the best financial interests of our clients requires us to think long-term about the opportunities and […]
Defined benefit plan sponsors are undoubtedly familiar with scenario risk analysis, but applying that concept to their portfolio’s climate risk is a whole new ballgame. But plan sponsors will need to use these risk analyses to get a handle on how exposed they are to climate change risks and opportunities decades into the future, said […]