The Caisse de dépôt et placement du Québec announced today it has updated its Policy on Responsible Investment, which has been in effect since 2005. The update is built around the following key areas:
• Environmental, social and governance (ESG) criteria – Integrating ESG criteria in portfolio management decisions is already established in the equity markets group. The Caisse will enhance the process of integrating these criteria into other asset class decision-making.
• Exclusions – The Caisse will exclude from its portfolio securities of companies that produce anti-personnel mines and cluster bombs for non-compliance with international conventions.
• Shareholder engagement –The Caisse’s shareholder engagement activities are conducted through a proactive dialogue with companies to improve the level of information available to companies in which it invests and influence their responsible business practices. The Caisse will enhance its shareholder engagement efforts by targeting specific issues recommended by the Responsible Investment Committee.
• Responsible Investment Committee – A standing committee will be established to examine responsible investment issues, structure existing initiatives and develop a new approach reflecting the Caisse’s ongoing priorities.
“We strive to continuously improve our responsible investment policy and practices,” said Michael Sabia, president and CEO of the Caisse. “It is in the best interests of our depositors that the Caisse further enhances the quality of its investments—by strengthening its portfolio management tools to both better manage risks and seize opportunities.”
The Caisse adheres to the UN Principles for Responsible Investment and was one of the first signatories when they were launched in 2006.
The Caisse reveals more about their investment strategies and plan management in the April edition of Benefits Canada. Find it in the new Strategy section.