Canadian businesses are taking a wider view of their social responsibilities amid the coronavirus pandemic, economic disparity and protests against racial injustice, according to a new survey by Mercer Canada. It found 65 per cent of Canadian human-resources leaders believe their company has continued or stepped up the pace towards an environmental, social and governance- […]
Pension plans in Canada now factor environmental, social and governance monitoring in their investment process, and in the absence of national guidance, plan managers are using various tools and methods to analyze ESG risk, noted panelists of a roundtable recently hosted by The Association of Canadian Pension Management. “Considering ESG requires a balance of the investment […]
Institutional investors, regulators and financial standard organizations are calling on Canadian corporations to adopt transparent climate-risk reporting, according to a new report from the C.D. Howe Institute. The report noted corporate directors have the legal and fiduciary duty to act in the best interests of their companies in developing strategies to address climate-related financial risks […]
The Caisse de dépôt et placement du Québec is continuing its investment partnership with MacKinnon, Bennett & Company Inc. in the form of a new joint $150-million investment in late-venture and early growth-stage companies focused on the decarbonization and transition to renewable-energy-powered transportation. The Caisse initially invested in the company in 2016 and again in […]
Following an unprecedented 2020, Canada’s plan sponsors and pension plans are incorporating the lessons of the last year as they prepare for a new decade, according to a recent webinar hosted by Mercer Canada. The coming years will be marked by developments including increased geopolitical tensions and the lingering economic effects of the coronavirus pandemic, […]
Two pension funds for New York City workers are pulling an estimated US$4 billion in investments from fossil-fuel companies in order to promote clean-energy use. Mayor Bill De Blasio and Scott Stringer, the city’s comptroller, announced Monday that the boards of the $91.4-billion New York City Employees’ Retirement System and the $77.4-billion New York City […]
The Ontario Teachers’ Pension Plan is committing to achieving net-zero greenhouse gas emissions by 2050. The commitment includes the establishment of concrete targets for portfolio emissions as well as increased investments in climate solutions, according to a press release, which noted the Ontario Teachers’ will also ensure portfolio companies manage and report their emissions annually. […]
Environmental, social and governance factors are continuing to influence company strategy, financing and operating environments in 2021, according to a new report by Fitch Ratings Inc. It found financial institutions will likely continue to enhance ESG due diligence and exclusionary policies to cover a broader set of ESG issues and entities, as the quality and […]
The Pension Investment Association of Canada is calling on the federal government to reform pension solvency rules while supporting legislation to introduce solvency reserve accounts and variable-payment life annuities. In response to a federal consultation paper, the PIAC said while it supports temporary relief measures amid the current economic climate, it cautioned against an approval […]
TC Energy Corp. is suspending work on the Keystone XL pipeline as a growing movement to divest from fossil fuels gains momentum. Just hours after his inauguration, U.S. President Joe Biden revoked the pipeline’s presidential permit, issued by his predecessor former President Donald Trump. The energy company had recently announced plans to decarbonize the pipeline and achieve net […]