Canadian plans among top responsible asset allocators

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Canada map from green grass, 3D rendering isolated on white © alexlmx /123RF Stock PhotosAs the British Columbia Investment Management Corp. released its 2018 annual responsible investing report, it also announced it made the list of the top 25 most responsible asset allocators.

The 25 most responsible asset owner list was released by the New America’s Responsible Asset Allocator Initiative, which was announced at the World Bank’s annual spring meeting. Other Canadian pension funds on the list included the Alberta Investment Management Corp., the Caisse de dépôt et placement du Québec, the Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan. Of note, Canada was the country with the highest number of leaders on the list.

“Environmental, social and governance factors that we face today will affect the returns of tomorrow,” said Gordon Fyfe, chief executive officer and chief investment officer of the BCI, in the report. “To generate sustainable, long-term returns far into the future, our investment activities must focus on strong performance, effective risk mitigation and active management. Responsible investing goes hand-in-hand with active ownership.”

For the third year in a row, the BCI received an A+ rating from the United Nations’ principles for responsible investment for its responsible investing strategy and governance approach, according to the report. It also noted BCI submitted 17 policy submissions to influence regulatory frameworks, directly engaged with 273 companies and participated in eight collaborative initiatives that targeted 392 companies.

“With our clients increasingly allocating their funds into illiquid investments, we are becoming more invested in the long-term success of our portfolio companies. As direct owners, their risks and their opportunities, become ours,” Fyfe said. “It is our responsibility to increase the value of these long-term investments through board representation and shareholder rights, influencing strategy and ensuring that operations align with our expectations.”

 

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