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Canadian Investors Endorse Sustainable Finance

Institutional investors welcome new report from Canada’s Expert Panel on Sustainable Finance

June 14, 2019 – Institutional investors are endorsing sustainable finance and welcoming a new report from Canada’s Expert Panel on Sustainable Finance.

The Expert Panel’s report includes fifteen recommendations to support the growth and development of sustainable finance in Canada. Sustainable finance refers to capital flows, risk management activities, and financial processes that incorporate environmental and social factors as a means of promoting sustainable economic growth and the long-term stability of the financial system¹.

The report has been welcomed by the Responsible Investment Association, a network of financial professionals and investment organizations representing more than C$12 trillion in assets under management.

“Prudent investors are always mindful of big changes that are happening in the market, and climate change is one of the biggest drivers of change in the global economy today,” said Dustyn Lanz, CEO of the Responsible Investment Association. “Investors need reliable information and a clear policy framework to better understand how climate change and other societal challenges could impact their portfolios. They also need a stable financial system in which to operate. The Expert Panel’s report marks an important step forward on all of those fronts.”

INSTITUTIONAL INVESTOR STATEMENTS:

The Co-operators Group Ltd.
“Climate change is the defining issue of our times. It has and will continue to impact the financial, social and environmental prosperity of current and future generations. As risk experts, we cannot turn a blind eye,” said Rob Wesseling, President and CEO of The Co-operators Group Limited. “Our mission is to provide financial security for Canadians and their communities, and therefore we must engage on topics that risk their security. We fully support the findings of the Expert Panel on Sustainable Finance, believing that Canadian financial institutions play a pivotal role in a smart transition to a sustainable, low-carbon economy.”

University of Toronto Asset Management Corporation
“We fully support the final report of the Expert Panel on Sustainable Finance, and we strongly believe in the benefits of integrating ESG considerations into our investment decisions,” said Daren M. Smith, President and Chief Investment Officer of University of Toronto Asset Management Corporation. “In order to do this, we need high quality, reliable data, and the panel’s recommendation to establish a Canadian Centre for Climate Information and Analytics would be an innovative step in this regard. Like the panel, we believe ‘climate change opportunity and risk management need to become business-as-usual in financial services, and embedded in everyday business decisions, products and services.’ In our view, this is just smart investing.”

Addenda Capital
“Addressing the long-term impacts of climate change and other sustainability challenges urgently requires courageous leadership from the Canadian business community,” said Roger Beauchemin, President and Chief Executive Officer of Addenda Capital. “The Expert Panel has delivered 15 recommendations that would help the financial sector further embed climate change and other sustainability considerations into everything we do. We call on our peers to join us in embracing these recommendations.”

NEI Investments
“We’ve long considered it our duty as responsible investors to help clients build a more sustainable future on the path to achieving their goals,” said Frederick M. Pinto, Senior Vice President and Head of Asset Management with NEI Investments. “The recommendations from the Expert Panel provide a strong foundation for doing that, with the potential for new investment opportunities and risk management tools. We intend to support and participate in their implementation in whatever ways make sense for our clients, their communities, and for Canada.”

RBC Global Asset Management
“Climate risk is one of the most pressing issues of our time, affecting almost all sectors and industries,” said Melanie Adams, VP & Head, Corporate Governance & Responsible Investment with RBC Global Asset Management. “We congratulate Canada’s Expert Panel on Sustainable Finance on its comprehensive report and in particular, its endorsement of thoughtful, consistent and comparable climate-related disclosures to enable investors to properly assess the climate-related risks and opportunities faced by companies.”

AGF Management Ltd.
“There’s never been more evidence that sustainability can create long-term value for shareholders, while also contributing to a better environment, healthier communities and good corporate governance practices,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer of AGF Management Limited. “As a leader in the development of sustainable investing initiatives, a sustaining member of the Responsible Investment Association (RIA) and signatory to the UNPRI, we continue to support the growth and development of sustainable finance in Canada through our participation in developing standards and best practices within our industry.”

Desjardins Group
“As Canada’s leading cooperative financial group, Desjardins is proud to contribute to Canada’s sustainable finance market and was pleased to offer input to the Expert Panel on Sustainable Finance,” said Gregory Chrispin, Executive Vice-President, Wealth Management and Life and Health Insurance with Desjardins Group. “Desjardins has been offering responsible investment funds to its members and clients since 1990, an offer that has been evolving ever since to better meet investors’ needs. We firmly believe that sustainable finance is an important lever to Canada’s sustainable prosperity.”

¹ Government of Canada (2018). Interim Report of the Expert Panel on Sustainable Finance. http://publications.gc.ca/collections/collection_2018/eccc/En4-350-1-2018-eng.pdf

About the Responsible Investment Association
The Responsible Investment Association (RIA) is a Canadian network of more than 300 institutional investors and investment professionals who practice and support responsible investing. The RIA’s institutional members collectively manage more than $12 trillion in assets. To learn more about the RIA, please visit www.riacanada.ca.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA
+1 416-461-6042

Hexavest Joins the RIA as an Associate Member

June 12, 2019 – Toronto – The Responsible Investment Association (RIA) is pleased to announce that Hexavest has joined the RIA as an Associate Member.

“It is my pleasure to welcome Hexavest as an Associate Member of the Responsible Investment Association,” said Dustyn Lanz, Chief Executive Officer of the RIA. “We share Hexavest’s view that sound management of environmental, social and governance factors can create long-term value for shareholders, and we look forward to collaborating with them in 2019 and beyond.”

The RIA is Canada’s industry association dedicated to advancing responsible investment, which refers to the incorporation of ESG factors into the selection and management of investments. RIA membership has grown rapidly in recent years as investors increasingly seek investments that align with their values and manage exposure to ESG risks and opportunities. According to research published by the RIA $2.1 trillion are invested responsible in Canada, equal to more than 50% of professionally managed AUM in Canada.

“Everyone at Hexavest shares the conviction that companies lacking strong governance standards or social and environmental responsibility are taking business risks that could adversely affect their stock’s performance,” said Marc Christopher Lavoie, President and co-founder of Hexavest. “Because our investment philosophy is strongly geared towards capital protection, the consideration of ESG factors is a natural fit with investment process. We are proud to join the RIA’s network and look forward to working with other investors to promote more sustainable and responsible investment practices.”

Hexavest is a boutique-style Canadian investment firm, specialized in global equity management for an institutional clientele. It offers a reading of the markets through a top-down approach that includes active currency management. Hexavest also analyses macroeconomic factors and puts investment in an economic and geopolitical context. Hexavest was founded in 2004 and manages $20.2 billion of assets for investors located in Canada, United States, Europe and Asia Pacific as of April 30, 2018.

About Responsible Investment Association
The Responsible Investment Association (RIA) is Canada’s membership association for Responsible Investment (RI). Members include mutual fund companies, financial institutions, asset management firms, advisors, consultants, investment research firms, asset owners, individual investors and others interested in RI. Our members believe that the integration of environmental, social and governance (ESG) factors into the selection and management of investments can provide superior risk adjusted returns and positive societal impact. To learn more about the RIA, please visit www.riacanada.ca.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA, +1 416-461-6042

FÉRIQUE Fund Management Joins the RIA as an Associate Member

June XX, 2019 – Toronto – The Responsible Investment Association (RIA) is pleased to announce that FÉRIQUE Fund Management has joined the RIA as an Associate Member.

“We are delighted to welcome Gestion Férique as an Associate Member of the Responsible Investment Association,” said Dustyn Lanz, Chief Executive Officer of the RIA. “Gestion Férique is a longtime supporter of responsible investment and shareholder engagement, and we look forward to working with them to grow responsible investment in Canada.”

“In 2006, FÉRIQUE Fund Management developed its Responsible Investment Policy on exercising FÉRIQUE Funds’ proxy voting rights, making it one of Quebec’s first mutual fund companies to address the issue of responsible investment”, said Louis Lizotte, Vice President, Investments at FÉRIQUE Fund Management. “This first initiative led FÉRIQUE Fund Management to sign the Declaration of Institutional Investors on Climate-Related Financial Risks. Joining the Responsible Investment Association was a natural progression, as it falls in line with FÉRIQUE Fund Management’s investment approach, which aims to align clients’ financial interests with the issues related to ESG factors. It is, therefore, with great enthusiasm that we are entering this affiliation.”

FÉRIQUE Fund Management is the manager of the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. The firm offers 10 mutual funds and 5 portfolios diversified across all asset classes. FÉRIQUE Funds have more than $2.8 billion in assets under management and close to 22,000 unitholders as of March 31st, 2019.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA, +1 416-461-6042

Sprott Inc. Joins the RIA as an Associate Member

June 6th, 2019 – Toronto – The Responsible Investment Association (RIA) is pleased to announce that Sprott Inc. has joined the RIA as an Associate Member.

“We are delighted to welcome Sprott Inc. as an Associate Member of the Responsible Investment Association,” said Dustyn Lanz, Chief Executive Officer of the RIA. “We applaud their commitment to incorporating ESG analysis into their investments in precious metals and real assets, and we look forward to working with them to advance responsible investing in Canada.”

“We’re delighted to become an Associate Member of the RIA,” said Ahsan Ahmed, Sprott’s Head of ESG. “Sprott is dedicated to responsible investing and has integrated a full ESG analysis into its investment decision making process. We believe active ESG ownership practices are key tenets to being a responsible investor.”

“We view this partnership as an important step towards enhancing our existing ESG program whilst at the same time letting our clients know that Sprott is committed to the highest ESG standards within the mining and asset management industries,” added Peter Grosskopf, CEO of Sprott.

Sprott is a global asset manager providing investors with access to differentiated precious metals and real assets investment strategies. Sprott’s investment products include physical bullion trusts, mining ETFs, as well as private equity and debt strategies. Sprott serves over 200,000 global clients and has approximately CAD$10 billion (USD$8 billion) in assets under management as of December 31st, 2018.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA, +1 416-461-6042

The RIA Releases its 2018 Annual Report

Toronto – May 31, 2019 – The Responsible Investment Association (RIA) is pleased to announce the release of its 2018 annual report. The report summarizes the organization’s progress along its five strategic priorities for achieving the RIA’s overarching goal of driving the adoption of responsible investing (RI) in Canada’s retail and institutional markets.

Canada’s RI market has doubled in size over the last four years, reaching a tipping point in 2018 when, for the first time ever, RI assets surpassed 50% of all professionally-managed assets in Canada. Within the context of this growing market, the RIA has also grown on all fronts, doubling our membership and tripling our staff capacity in the last four years. Our strengthened capacity has enabled us to expand our programs and events while solidifying our position as the national hub for RI in Canada.

In June 2018, the RIA adopted five strategic priorities:

Market Education: Promoting awareness, understanding, and demand for RI;
Integration: Supporting the integration of RI within investment firms and advisor practices;
Advocacy: Working towards a policy framework that is conducive to RI;
Brand & Reputation: Bolstering the RIA’s national brand & reputation as the leading hub for RI;
Capacity Building: Building our financial and human capital resources to support these goals.

The Annual Report summarizes our work toward delivering on these priorities in 2018.

Download the full report here.

The RIA Joins the 30% Club!

The Responsible Investment Association (RIA) is pleased to announce that its CEO Dustyn Lanz has become a member of the 30% Club Canada, a group of business leaders who are committed to working towards a gender balance in corporate leadership.

The 30% Club’s name comes from its aspirational goal, which is for women to hold 30% of board seats and C-Suite positions. Recent research from Osler shows that women hold only 3.3% of CEO positions and 16% of board seats at TSX-listed companies. As a member of the 30% Club, Dustyn will actively contribute to its goal of achieving better gender balance on boards of directors and in senior management positions.

“The severe gender imbalance in corporate leadership is unjust, and it paints a stark picture of how far we have to go on gender equality,” said Lanz. “A lack of women in leadership also means lost opportunities for companies and investors – there is intrinsic value in having a gender mix around the table. I look forward to working with the 30% Club to drive gender equality forward in corporate Canada.”

A diverse board is associated with improved governance and board performance, as well as strong financial performance for companies and shareholders. Research has shown that companies with more women in leadership tend to outperform on a number of financial indicators, including return on equity, return on sales, share price performance, and other metrics.

The RIA recently announced its board diversity policy, which aims to achieve equal gender representation on the RIA board over time. Women currently hold 42% of seats on the RIA’s board of directors.

To learn more about the Canadian chapter of the 30% Club and how to join, click the link: https://30percentclub.org/about/chapters/canada

GRESB Joins the RIA as an Associate Member

May 7, 2019 – Toronto – The Responsible Investment Association (RIA) is pleased to announce that GRESB has joined the RIA as an Associate Member.

“We are thrilled to welcome GRESB as an Associate Member of the Responsible Investment Association,” said Dustyn Lanz, Chief Executive Officer of the RIA. “GRESB has played an important role in promoting responsible investing in real assets, and we look forward to collaborating with them to drive awareness of responsible investing across asset classes.”

The RIA is Canada’s industry association dedicated to advancing responsible investment, which refers to the incorporation of ESG factors into the selection and management of investments. RIA membership has grown rapidly in recent years as investors increasingly seek investments that align with their values and manage exposure to environmental, social and governance (ESG) risks and opportunities. According to research published by the RIA $2.1 trillion are invested responsible in Canada, equal to more than 50% of professionally managed AUM in Canada.

“GRESB is excited to partner with the RIA, Canada’s industry association for responsible investment,” said Neil Pegram, Director of Americas, GRESB. “GRESB is led globally by our institutional Investor Members with a focus on ESG in real assets. RIA Members include asset managers, asset owners, advisors, and service providers who believe incorporating ESG factors into investment decisions can provide superior risk-adjusted returns and positive societal impact. There is increasing overlap in our membership as Canadian institutional investors continue to demonstrate leadership in ESG globally and we look forward to working together.”

GRESB assesses the sustainability performance of real estate and infrastructure portfolios and assets worldwide. They offer ESG data, Scorecards, Benchmark Reports and portfolio analysis tools. More than 75 institutional investors, collectively representing over USD 18 trillion in institutional capital, use GRESB data and analytical tools.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA, +1 416-461-6042

RI Funds Quarterly Performance Report – Q1 2019

Data provided by Fundata shows that nearly half of Canadian RI funds outperformed their average asset class return within the first quarter of 2019, and nearly three-quarters of RI funds outperformed over the one-year period ending March 31, 2019.

A majority of RI funds performed well over longer time periods, highlighting the long-term value of incorporating environmental, social and governance (ESG) factors into investment decisions. Two-thirds of RI funds outperformed their average asset class return over five years, while more than half of RI funds outperformed over the three-year and 10-year periods.

Download Q1 2019 Highlights.

RIA Members can download the full report by logging in to their account.

Hugessen Consulting Joins the RIA as an Associate Member

May 2, 2019 – Toronto – The Responsible Investment Association (RIA) is pleased to announce that Hugessen Consulting has joined the RIA as an Associate Member.

“We are pleased to welcome Hugessen as an Associate Member of the Responsible Investment Association,” said Dustyn Lanz, Chief Executive Officer of the RIA. “Hugessen has demonstrated leadership on corporate governance, which is a core pillar of responsible investing. We look forward to working with them to promote education and awareness around corporate governance practices and responsible investing in Canada.”

“The constantly evolving focus of the capital markets are integral to our work in executive compensation which is why we are thrilled to be joining the RIA, as environmental and social topics take on more prominence in the boardrooms of our clients,” said Michelle Tan, Principal at Hugessen Consulting. “We look forward to working with the RIA and sharing insights with our clients in the executive and director community on how to incorporate these considerations into corporate performance management, as well as executive pay.”

Hugessen Consulting is a board-side executive compensation advisory firm. Hugessen offers strategic advice and analysis to enable boards to make the right decisions on executive compensation and its governance aspects.

Media Enquiries
Nick Buccheri, Manager, Communications and Digital Media, RIA, +1 416-461-6042

Gender Lens Investing by RIA CEO Dustyn Lanz (Investment Executive)

Men hold the vast majority of board seats and CEO positions in Canada. Gender lens investing aims to close the gap.

A recent Osler report found that women hold only 16% of board seats at TSX-listed companies, and a staggering 66% of boards have either one or zero women.

The figures are even more dismal for the C-suite.

Read the full article.