BCI joins global effort advocating for sustainable capital markets

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Copyright : olegdudko // 123RFThe British Columbia Investment Management Corp. is aligning itself with other global pension investors as the first Canadian institution to sign a new joint letter calling for long-term sustainability to become a more prevalent concern for corporations and asset managers alike.

This letter was co-signed in early March by three institutional investors, Japan’s Government Pension Investment Fund, the California State Teachers’ Retirement Scheme, the U.K.-based Universities Superannuation Scheme.

Along with the BCI, the letter has now also been signed by the ABP, the Environment Agency Pension Fund, the Fonds de Réserve pour les Retraites, the HESTA Super Fund, the Nest Corporation and the RPMI Railpen.

Three others have also agreed to join, said a BCI press release.

“We are committed to those companies and partners that create long-term value for our clients and who integrate environmental, social and governance matters into their decision-making processes,” said Gordon Fyfe, the BCI’s chief executive officer and chief investment officer. “They must have a clearly defined vision for sustainable growth because the ESG factors that we face today will affect the returns of tomorrow.”

The letter itself emphasizes the need to fold the potential effects of long-term considerations like climate change into investment strategies, as well as how companies themselves operate.

“If we were to focus purely on short-term returns, we would be ignoring potentially catastrophic systemic risks to our portfolios,” it said.

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