Trans-Canada Capital Inc., an investment manager that was spun out of Air Canada’s defined benefit pension plans in 2019, is a signatory of the United Nations-backed principles for responsible investment.
The PRI is a set of principles that reflect the view that environmental, social and corporate governance issues need to be appropriately considered in the investment process. The principles provide a voluntary framework by which investors can incorporate ESG issues into their decision-making and ownership practices.
By signing, financial organizations pledge to incorporate ESG issues into investment decision-making processes, to incorporate ESG issues into ownership policies, to publish regular ESG disclosure reports and to encourage investees to publish similar reports. More than 4,600 financial institutions, representing US$121 trillion in assets under management, have signed.
In the press release, Vincent Morin, chef executive officer of TCC, said it was the firm’s duty to consider all factors with the potential to impact its investments, including ones related to ESG issues. “Becoming a PRI signatory demonstrates our commitment to address the challenges of today and tomorrow. By implementing the six principles, TCC aims to join forces with the global financial community and play a more active role in the development of a sustainable financial system.”
TCC, which has $30 billion assets under management, manages the investments of a number of other Canadian institutional investors.