CEOs of leading canadian pension plan investment managers support inaugural International Sustainability Standards Board (ISSB) standards
Today, CEOs of 11 of Canada’s leading pension plan investment managers, representing more than $2
Together, Alberta Investment Management Corporation (AIMCo), British Columbia Investment Management Corporation (BCI), Caisse de dépôt et placement du Québec, CPP Investments, Healthcare of Ontario Pension Plan (HOOPP), Investment Management Corporation of Ontario, OMERS, Ontario Teachers' Pension Plan, OPTrust, PSP Investments and University Pension Plan have issued a joint statement in support of the inaugural ISSB standards (“Standards”). The new ISSB standards help consolidate existing disclosure standards including the Sustainability Accounting Standards Board (SASB) standards and the Task Force on Climate-related Financial Disclosures (TCFD) framework.
The CEOs said they believe widespread adoption of this new global baseline will spur companies to more closely examine and manage activities that are having an increasingly material impact on long-term value creation.
The joint statement declares that Canada’s pension plan investment managers “are mandated to deliver long-term risk-adjusted returns that help support retirement and benefit security for millions of people. In
How companies identify and address issues such as diversity and inclusion, human capital, board effectiveness and climate change can significantly contribute to value creation or erosion. Companies have an obligation to disclose their material business risks and opportunities to their investors and, in our view, should provide financially relevant, comparable, and decision-useful information.
For our part, we will continue to strive to strengthen our own sustainability disclosures and allocate capital to businesses best placed to preserve and create value over the long run.”
The ISSB, which released the new standards on June
The Standards have been developed to be used in conjunction with any accounting requirements under the International Financial Reporting Standards (IFRS).
- IFRS S1 provides a set of disclosure requirements designed to enable companies to communicate to investors about the sustainability-related risks and opportunities they face over the short, medium and long term.
- IFRS S2 sets out specific climate-related disclosures and is designed to be used with IFRS
Both fully incorporate the TCFD recommendations.
The ISSB developed IFRS S1 and IFRS
ABOUT:
Alberta Investment Management Corporation (AIMCo)
AUM $158 billion (as at December 31, 2022)
About
Media: Carolyn Quick, Tel: +1 (647) 249 8917, Email: [email protected]
BCI
Gross AUM $233.0 billion (as at March 31, 2023)
About
Media: Olga Petrycki, Tel: +1 (778) 410 7100 Email: [email protected]
CDPQ
AUM $402 billion (as at December 31, 2022)
About
Media: Conrad Harrington, Tel: +1 (514) 847 5493, Email: [email protected]
CPP Investments
AUM $570 billion (as at March 31, 2023)
About
Media: Steve McCool, Tel: +44 (7780) 224 245, Email: [email protected]
HOOPP
AUM $103.7 billion (as at December 31, 2022)
About
Media: James Geuzebroek, Email: [email protected]
Investment Management Corporation of Ontario
AUM $73.3 billion (as at December 31, 2022)
About
Media: Neil Murphy, Tel: +1 (416) 898 3917, Email: [email protected]
OMERS
AUM $124.2 billion (as at December 31, 2022)
About
Media: Lori McLeod, Tel: + 1 (437) 241 8480, Email: [email protected]
Ontario Teachers’ Pension Plan
AUM $247.2 billion (as at December 31, 2022)
About
Media: Dan Madge, Tel: +1 (416) 730 6451, Email: [email protected]
OPTrust
AUM $24.6 billion (as at December 31, 2022)
About
Media: Claire Prashaw, Tel: +1 (416) 859 9386, Email: [email protected]
PSP Investments
AUM $243.7 billion (as at March 31, 2023)
About
Media: Maria Constantinescu, Tel: +1 (514) 218 3795, Email: [email protected]
University Pension Plan
AUM $10.8 billion (as at December 31, 2022)
About
Media: Zandra Alexander, Tel: +1 (647) 454 2612, Email: [email protected]
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