Imperial Oil Ltd. shareholders have voted against environmental, social and governance-related proposals backed by the Bâtirente and the British Columbia Investment Management Corp. during the company’s annual general meeting. The Bâtirente’s motion called on Imperial Oil to adopt direct and indirect greenhouse gas emissions reduction targets for 2030. If passed, the proposal would have obliged […]
As world markets contend with supply chain issues stemming from climate change, the coronavirus pandemic and Russia’s invasion of Ukraine, environmental, social and governance considerations are slowly taking a more prominent role in pension funds’ risk assessments. In particular, Canadian pension funds are taking a progressive approach to ESG investing. Many have become signatories of […]
Institutional investors are steadily integrating environmental, social and governance into their investment reporting and practices, according to a new report by the United Nations’ principles for responsible investment. The report, which analyzed data from more than 1,800 investment organizations that have signed the PRI, found nearly all have formal, senior-level oversight and accountability for responsible […]
The British Columbia Investment Management Corporation is expanding its proxy voting guidelines around racial diversity to cover Canadian-domiciled investee businesses. “Proxy voting is a key shareholder right and powerful tool for BCI to drive action aligned to our clients’ best interests,” said Daniel Garant, executive vice-president and global head of public markets at the BCI, […]
Shift Action for Pension Wealth and Planet Health is describing the Canada Pension Plan Investment Board’s acquisition of a significant stake in one of California’s largest oil producers as “alarming.” “These claims are alarming as none of the technologies mentioned offer credible pathways for meaningfully reducing Aera’s carbon emissions quickly enough or aligning Aera with CPPIB’s net-zero […]
Canadian investment managers had $3 trillion in assets using responsible investment strategies as of Dec. 31, 2021, down slightly from the $3.2 trillion reported in 2019, according to a survey by the Responsible Investment Association. The survey, which polled 77 asset managers and 13 asset owners, found more than nine in 10 (94 per cent) respondents are […]