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OSFI launching consultation on climate change risks to pensions, financial institutions

While it’s common practice for pension plan sponsors to factor climate risk into investment strategies, there’s more work to be done on factoring climate change into mortality and morbidity assumptions, says Bernard Morency, past chair of the Canadian Institute of Actuaries’ public affairs council and co-chair of its climate change and sustainability steering committee. “As […]

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New York City comptroller Brad Lander and three of the city’s pension funds are offering shareholder proposals calling on several banks — including the Royal Bank of Canada — to disclose absolute greenhouse gas emissions targets for 2030. The shareholder proposals, which request a report within one year, call for an absolute reduction target aligned […]

Caisse, CPPIB, Ontario Teachers’ invest in insurance company

The Canada Pension Plan Investment Board is appointing Richard Manley as its chief sustainability officer. In the role, Manley will lead the team responsible for refining and enacting a strategic roadmap to help the investment organization navigate the global transition away from fossil fuels. The CPPIB expects the plan to help anticipate, manage and integrate […]

  • By: Staff
  • November 10, 2022 November 10, 2022
  • 11:06

The OPSEU Pension Trust is enhancing its climate change strategy to successfully navigate the global transition toward net-zero emissions. The pension fund’s priorities include updating climate scenarios and examining any implications for its investment approach; launching climate due diligence frameworks for use by investment teams across all asset classes; implementing stewardship plans to advance the transition […]

  • By: Staff
  • October 26, 2022 October 26, 2022
  • 15:00
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About two-thirds (64 per cent) of global institutional investors say new ideas and access to top asset managers are the key benefits of hiring an outsourced chief investment officer, according to a new survey by London-based CoreData Research. The survey, which polled nearly 300 institutional investors in Asia, Australasia, Europe and North America, also found […]

  • By: Staff
  • October 4, 2022 October 4, 2022
  • 12:30

The Ontario Teachers’ Pension Plan is investing in a packaging company servicing European and North American businesses, as well as an Indian renewable energy platform. The pension fund is securing its stake in GPA Global from EQT Private Equity and several smaller shareholders. Following the transaction, the Ontario Teachers’ will share control of the business […]

  • By: Staff
  • September 20, 2022 September 20, 2022
  • 11:00

While one expert says the two approaches work most effectively together, the other highlights the importance of complete divestment. Adam Scott, director at Shift Action for Pension Wealth and Planet Health: The common framing of engagement versus divestment is a false dichotomy. They aren’t mutually exclusive approaches — both are essential tools for pension managers, […]

The Pension Investment Association of Canada is providing feedback on the International Sustainability Standard Board’s exposure drafts on disclosure of financial information pertaining to sustainability and climate change. In an open letter responding to a consultation by the ISSB, the PIAC said while it supports the ISSB’s decision to build upon existing reporting frameworks — […]

  • By: Staff
  • August 4, 2022 August 3, 2022
  • 09:00

The Public Sector Pension Investment Board is engaging WSP Global Inc. to develop a consistent methodology for analyzing the environmental impact of its natural resources assets. The consultancy firm will conduct a detailed climate analysis of the portfolio, which includes more than three million hectares of land across more than 400 properties based in six countries. […]

  • By: Staff
  • July 12, 2022 July 12, 2022
  • 10:00

An article on how pension plans are approaching risk management was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: Is risk management the new frontier in pension governance? 2. Sun Life completes acquisition of U.S. dental benefits provider 3. 44% of employers believe remote […]

  • By: Staff
  • June 10, 2022 June 9, 2022
  • 09:00