Stewardship investing
At CDPQ, we believe that environmental, social and governance (ESG) matters should not be seen as constraints. They are an opportunity to generate sustainable growth that benefits everyone.
2019 Stewardship Investing Report
Key numbers
$34 B
low-carbon investments in the portfolio as at December 31, 2019
+ $16.8 B
in low-carbon investments since launching our climate change strategy in 2017
+ $6 T
Assets under management with members of the Investor Leadership Network, cofounded by CDPQ
Our main focal areas
Climate change is impacting the world more than ever, resulting in human, environmental and economic consequences. As a long-term investor, we believe this issue is a major priority.
Inspired by the Paris Agreement, our investment strategy to address climate change is one way we can contribute to the transition toward a low-carbon economy.
In 2019, we published the fourth edition of our Sustainable Development Action Plan, comprising 27 actions over a two-year period.
We are also among the first institutional investors to integrate the United Nation's six Principles for Responsible Investment (PRI).
In addition to including ESG factors in our investment analyses and decision-making processes, we continuously engage in our capacity as a shareholder.
Each year, we have discussions with portfolio companies about topics that concern us, including executive compensation and diversity.
We believe tax issues are particularly important, and we support various international initiatives to address them.
The tax practices of the companies we invest in must be appropriate and non-abusive. When considering an investment, we analyze tax practices in the same way we analyze risk.
We want to help address the challenges society faces and show that commercial interests are compatible with the public interest. To have a greater impact, we play a leadership role in engaging our partners on our priorities.
Our approach to stewardship investing
- Global approach
Integrate our approach into the centre of our decision-making process for the total portfolio and our activities - Priority: Climate
Deploy an ambitious and structured strategy to contribute to the transition toward a low-carbon global economy - Focal areas
In addition to the climate, focus our actions on diversity and governance, including Board composition, executive compensation, cybersecurity and international taxation - Leadership
Engage our partners on a collective and constructive commitment to community sustainability - Centralizing expertise
Consolidate our expertise in a group dedicated to stewardship investing
Our latest commitments
An overview of CDPQ’s latest commitments in line with our stewardship investment strategy.
Tobacco-Free Finance Pledge
- Signed the pledge in December 2020.
- This pledge highlights the leadership of financial institutions that have implemented tobacco-free finance policies and encourages others to follow suit.
CEO Statement of Canada’s eight largest pension plan investment managers
- Signed the statement in November 2020.
- The statement calls on companies and investors to help drive sustainable and inclusive economic growth from companies through better ESG disclosure and reporting.
BlackNorth initiative
- Signed the BlackNorth pledge in September 2020.
- The BlackNorth Initiative invites senior business leaders in Québec and across Canada to commit to specific actions and targets designed to end anti-Black systemic racism and to contribute to the creation of opportunities for the Black community.
Philanthropy
CDPQ and its employees are involved in their community and actively support a number of philanthropic causes in Québec.
Philanthropic workWe take our contribution to the well-being of society seriously. Through our philanthropic work, we support more than 180 organizations active in our priority sectors.
Volunteering
Our employees contribute their time to benefit non-profit organizations in different ways, such as through Board director positions, mentoring roles, participation as spokespersons and corporate athletic challenges.
Our corporate cause
Centraide (United Way outside Québec) is a cause that we are proud to support. For over 20 years, our campaigns in support of Centraide have raised several million dollars for community betterment efforts.