ESG investing – Benefits Canada.com

AIMCo sells stake in Spanish renewable energy company, issues inaugural green bond

Jennifer Paterson — Mon, 15 Nov 2021 14:00:53 +0000

The Alberta Investment Management Corp. is selling its 97.33 per cent ownership stake in a Spanish renewable energy company. Eolia Renovables de Inversiones is an independent power producer that develops, constructs and operates wind farms and solar photovoltaic plants. The company manages a 899 megawatt portfolio of renewable energy assets, as well as a renewable […]

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2021 GIC coverage: The evolution of ESG investing

Gideon Scanlon — Tue, 09 Nov 2021 11:49:46 +0000

The recent emphasis on environmental, social and governance issues among pension investors will continue to dominate industry conversations in the future, according to a panel discussion with three high-profile figures in Canada’s investment sector during the 2021 Global Investment Conference. “If I could rename ESG, it would be GES,” said Alain Malaket, chief executive officer […]

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Norway pension fund divesting from companies tied to weapon production

Jennifer Paterson — Thu, 04 Nov 2021 14:00:30 +0000

Norway’s largest pension fund is divesting from 14 companies involved in producing nuclear missiles and other weapons. Oslo-based KLP, which manages more than 300 billion kroner (US$35.4 billion), said it made the decision after reviewing companies that may violate its guidelines on weapons. “Those excluded are mainly companies that directly or indirectly contribute to the continuing […]

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U.S. proposing ESG investing rules for plan sponsor fiduciaries

Gideon Scanlon — Tue, 19 Oct 2021 15:00:22 +0000

The U.S. Department of Labor is proposing new rules that would give pension plan fiduciaries the ability to make investment decisions based on environmental, social and governance factors. If adopted, the rules would amend the Employee Retirement Income Security Act of 1974. In its summary of the proposed changes, the Department of Labor said they’d […]

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Caisse, CPPIB, PSP focusing on ESG, sustainable finance with new initiatives

Jennifer Paterson — Mon, 04 Oct 2021 19:00:19 +0000

More than 20 financial organizations in Quebec, including the Caisse de dépôt et placement du Québec and the Public Sector Pension Investment Board, are joining forces to tackle the climate emergency. The initiative, the Statement by the Quebec Financial Centre for a Sustainable Finance, aims to affirm Quebec’s leadership in sustainable finance and the financial institutions’ […]

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UPP building on jointly governed pension model with a pandemic launch

lbailey — Fri, 17 Sep 2021 12:53:24 +0000

When the University Pension Plan officially launched in July 2021, it did so with Barbara Zvan as its inaugural president and chief executive officer. Fresh from a 25-year career with the Ontario Teachers’ Pension Plan, she was appointed by the UPP’s board of trustees in July 2020. While most of the foundational work had been […]

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ESG integration hampered by pension plan sponsors, uncertainty around fiduciary duties: research paper

Gideon Scanlon — Thu, 02 Sep 2021 13:00:43 +0000

Board and executive-level efforts to integrate environmental, social and governance issues into pension plans’ investment strategies are frequently thwarted by unclear guidance from plan sponsors and uncertainty about fiduciary duties, according to a new working paper by the University of Pennsylvania. The paper concluded that efforts to implement ESG criteria in investment decision-making are frequently hamstrung […]

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Canada ahead of U.S. in regulating ESG investments but more required: report

Gideon Scanlon — Tue, 31 Aug 2021 16:30:06 +0000

Broad support for regulating environmental, social and governance-themed investments in Canada has left the U.S. Securities and Exchange Commission playing catch-up with its northern neighbour, says Katie Pries (pictured), president and chief executive officer of Northern Trust Canada. “While the U.S. Securities and Exchange Commission is working through its regulatory plans for ESG investing, Canada […]

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More standards required for pension funds using ESG data, indices and scores

mdunne — Fri, 13 Aug 2021 12:54:48 +0000

Michel Charron has had a front-row seat for the revolution in the Canadian investment industry’s approach to environmental, social and governance issues. Following the foundation of the United Nation’s principles for responsible investment in 2008, his firm, PBI Actuarial Consultants Inc., immediately signed up. But the concept required explanation for some pension plan sponsors, he […]

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Investors have role in advancing reconciliation with Indigenous peoples, says report

Gideon Scanlon — Tue, 27 Jul 2021 16:25:34 +0000

Institutional investors have a role to play in reconciling Canada with Indigenous people, says a new report by the Reconciliation and Responsible Investment Initiative. “With the Truth and Reconciliation Commission [of Canada] report, it’s clear that we can all play our parts. It’s on all of us,” says Katherine Wheatley, manager of the RRII. “The […]

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