While many financial institutions are issuing green bonds, Sun Life Financial is the first insurance company globally to issue a sustainability bond, which will cover investments in both green assets and other assets serving a broader social purpose. On Wednesday, Sun Life announced it’s issuing a $750 million principal amount of Series 2019-1 subordinated unsecured […]
Nearly half (46 per cent) of the world’s highest-emitting publicly listed companies aren’t adequately considering climate risk in their operational decision-making, according to a new report. Conducted for the Transition Pathway Initiative by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, the report used FTSE Russell data […]
When ESG, the catch-all acronym for environmental, social and governance, is discussed, a lot of terms are thrown around. As these issues increasingly play into institutional investors’ decision-making, they need to know what it all means. Climate change dominates among environmental concerns, but plastic waste is also holding investor attention. Major social issues include preventing […]
The Desjardins Group pension plan is acquiring a portion of EDF Renewables Canada Inc.’s stake in the Cypress Wind Project, pending the completion of its construction and other terms and conditions. Located southeast of Medicine Hat, Alta., the project will include 48 turbines with a combined capacity of 201.6 megawatts. Construction is expected to start in […]
An expert panel on sustainable finance is advocating for the government to implement a number of recommendations, including some related to pension plans and individual retirement savings accounts. For defined contribution plans, other group pension programs and registered retirement savings plans, the report suggested offering tax-based financial incentives for people who invest in accredited climate-conscious […]
In a challenging year for global equity markets, with fixed income returns below average, the University of Toronto Asset Management Corp.’s pension portfolio returned a negative 1.6 per cent, while it’s endowment portfolio returned a negative 1.5 per cent, net of investment fees and expenses. The UTAM manages funds for the university’s pension, endowment and […]
The large majority of global investors in alternative asset classes believe the United Nation’s sustainable development goals are tools that can help the investment industry address urgent environmental and social issues, according to new research by LGT Capital Partners. In a survey of more than 200 institutional investors, including pensions, endowments and insurers from 28 countries, 91 per […]
Amid the growing popularity of incorporating environmental, social and governance factors in investing, a Dutch pension fund is partnering with index-provider FTSE Russell to design a custom passive index that incorporates some of the United Nations’ sustainable development goals. Pensioenfonds Detailhandel has been incorporating ESG principles for almost five years, says Henk Groot, head of investments […]
As pension plans are engaging more often as active shareholders, some companies are beginning to chafe. One instance of pushback came after the the New York State Common Retirement Fund co-sponsored a proposal with the Church of England’s endowment fund requesting that Exxon Mobil Corp. include short-, medium- and long-term greenhouse gas reduction targets aligned with […]
After exceeding its target for low-carbon assets in 2018, the Caisse de dépôt et placement du Québec is now aiming to boost its low-carbon holdings to $32 billion by 2020, according to its second annual stewardship investing report. In 2017, the pension fund started with $18 billion in low-carbon assets in its portfolio and raised that to […]