TORONTO--(BUSINESS WIRE)--Institutional investors are endorsing sustainable finance and welcoming a new report from Canada’s Expert Panel on Sustainable Finance.
The Expert Panel’s report includes fifteen recommendations to support the growth and development of sustainable finance in Canada. Sustainable finance refers to capital flows, risk management activities, and financial processes that incorporate environmental and social factors as a means of promoting sustainable economic growth and the long-term stability of the financial system.1
The report has been welcomed by the Responsible Investment Association, a network of financial professionals and investment organizations representing more than C$12 trillion in assets under management.
“Prudent investors are always mindful of big changes that are happening in the market, and climate change is one of the biggest drivers of change in the global economy today,” said Dustyn Lanz, CEO of the Responsible Investment Association. “Investors need reliable information and a clear policy framework to better understand how climate change and other societal challenges could impact their portfolios. They also need a stable financial system in which to operate. The Expert Panel’s report marks an important step forward on all of those fronts.”
INSTITUTIONAL INVESTOR STATEMENTS:
The Co-operators Group Ltd.
“Climate change is the defining
issue of our times. It has and will continue to impact the financial,
social and environmental prosperity of current and future generations.
As risk experts, we cannot turn a blind eye,” said Rob Wesseling,
President and CEO of The Co-operators Group Limited. “Our mission is to
provide financial security for Canadians and their communities, and
therefore we must engage on topics that risk their security. We fully
support the findings of the Expert Panel on Sustainable Finance,
believing that Canadian financial institutions play a pivotal role in a
smart transition to a sustainable, low-carbon economy.”
University of Toronto Asset Management Corporation
“We fully
support the final report of the Expert Panel on Sustainable Finance, and
we strongly believe in the benefits of integrating ESG considerations
into our investment decisions,” said Daren M. Smith, President and Chief
Investment Officer of University of Toronto Asset Management
Corporation. “In order to do this, we need high quality, reliable data,
and the panel’s recommendation to establish a Canadian Centre for
Climate Information and Analytics would be an innovative step in this
regard. Like the panel, we believe 'climate change opportunity
and risk management need to become business-as-usual in financial
services, and embedded in everyday business decisions, products and
services.' In our view, this is just smart investing.”
Addenda Capital
“Addressing the long-term impacts of climate
change and other sustainability challenges urgently requires courageous
leadership from the Canadian business community,” said Roger Beauchemin,
President and Chief Executive Officer of Addenda Capital. “The Expert
Panel has delivered 15 recommendations that would help the financial
sector further embed climate change and other sustainability
considerations into everything we do. We call on our peers to join us in
embracing these recommendations.”
NEI Investments
“We’ve long considered it our duty as
responsible investors to help clients build a more sustainable future on
the path to achieving their goals,” said Frederick M. Pinto, Senior Vice
President and Head of Asset Management with NEI Investments. “The
recommendations from the Expert Panel provide a strong foundation for
doing that, with the potential for new investment opportunities and risk
management tools. We intend to support and participate in their
implementation in whatever ways make sense for our clients, their
communities, and for Canada.”
RBC Global Asset Management
“Climate risk is one of the most
pressing issues of our time, affecting almost all sectors and
industries,” said Melanie Adams, VP & Head, Corporate Governance &
Responsible Investment with RBC Global Asset Management. “We
congratulate Canada’s Expert Panel on Sustainable Finance on its
comprehensive report and in particular, its endorsement of thoughtful,
consistent and comparable climate-related disclosures to enable
investors to properly assess the climate-related risks and opportunities
faced by companies.”
AGF Management Ltd.
“There’s never been more evidence that
sustainability can create long-term value for shareholders, while also
contributing to a better environment, healthier communities and good
corporate governance practices,” said Kevin McCreadie, Chief Executive
Officer and Chief Investment Officer of AGF Management Limited. “As a
leader in the development of sustainable investing initiatives, a
sustaining member of the Responsible Investment Association (RIA) and
signatory to the UNPRI, we continue to support the growth and
development of sustainable finance in Canada through our participation
in developing standards and best practices within our industry.”
Desjardins Group
“As Canada’s leading cooperative financial
group, Desjardins is proud to contribute to Canada’s sustainable finance
market and was pleased to offer input to the Expert Panel on Sustainable
Finance,” said Gregory Chrispin, Executive Vice-President, Wealth
Management and Life and Health Insurance with Desjardins Group.
“Desjardins has been offering responsible investment funds to its
members and clients since 1990, an offer that has been evolving ever
since to better meet investors’ needs. We firmly believe that
sustainable finance is an important lever to Canada’s sustainable
prosperity.”
About the Responsible Investment Association
The Responsible
Investment Association (RIA) is a Canadian network of more than 300
institutional investors and investment professionals who practice and
support responsible investing. The RIA’s institutional members
collectively manage more than $12 trillion in assets. To learn more
about the RIA, please visit www.riacanada.ca.
1 Government of Canada (2018). Interim Report of the Expert Panel on Sustainable Finance. http://publications.gc.ca/collections/collection_2018/eccc/En4-350-1-2018-eng.pdf
