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Category: News

CEC Net Zero Benchmark Company Assessments

First-Ever Net Zero Assessment of Canada’s Top Reporting or Estimated Emitters on the Toronto Stock Exchange.

The CEC Net Zero Benchmark provides a set of common standards for investors to evaluate corporate issuers’ progress towards aligning with the Paris Agreement’s ambition, limiting global warming to well below 2 degrees Celsius, while pursuing efforts to limit the increase to 1.5 degrees.

TORONTO | Traditional territories of the Mississaugas of the Credit, the Anishinaabeg, the Haudenosaunee, and the Huron-Wendat – Climate Engagement Canada (CEC) is an investor-led engagement mechanism driving Canada’s business transition to Net Zero. The initiative has released its first-ever Net Zero Benchmark, allowing CEC participant investors to frame and measure their engagements with Focus List companies. These companies represent Canada’s top reporting or estimated emitters and/or corporate issuers with a significant opportunity to contribute to the transition to a low-carbon future in Canada. The CEC Net Zero Benchmark, provides a set of detailed and comparative common standards to support corporate issuers’ progress towards aligning with the Paris Agreement’s ambition.

DOWNLOAD THE ASSESSMENTS HERE

CEC Benchmark Insights and Roadmap

The Benchmark follows a rigorous evaluation process designed to provide a comprehensive view of each company’s progress in addressing climate-related challenges. Given the specific challenges faced by certain sectors, the results of the Benchmark also reflect the practical implications of addressing the net-zero transition. The Benchmark is provided as a roadmap for Canadian companies and investors, highlighting its purpose as a guiding tool rather than a conventional scorecard. It will be used to foster a constructive dialogue with Focus List companies on areas of strength, areas of opportunity, and areas requiring further effort.

Key Findings

  • 98% of focus list companies explicitly commit to align disclosures with the Task Force on Climate-Related Financial Disclosure (TCFD) recommendations and/or are a public supporter of TCFD.
  • Nearly half (44%) of CEC focus list companies have made a qualitative net zero ambition that covers all or nearly all of direct operations. However, the lack of 5°C-aligned short-term targets suggests that additional work is required to demonstrate credible net zero transition strategies.
  • Overall, significant effort and further disclosures are required to demonstrate climate action plans i) have positive social and economic impacts for communities and workers; ii) meet thresholds of Free, Prior, and Informed Consent for Indigenous communities; and iii) are supported by sound financial planning and capital alignment.
  • 41% of Focus List companies indicate that their CEO and/or at least one other senior executive’s remuneration specifically incorporates climate change performance as a key performance indicator (KPI).
  • While several companies have begun mobilising their capital expenditures to align with action on climate, none have explicitly aligned capital expenditures to their targets in disclosures.

CEC participants will use the Benchmark for input and discussion in their collaborative engagement activities with Focus List companies. The results of the Benchmark also provide input to investor participants and other stakeholders on areas that require additional focus, research, or support. In the coming months, CEC will continue to provide insight and input into the Benchmark results, trends, and opportunities for collaboration and engagement. The Benchmark and ongoing efforts will continue to support CEC’s goal of driving dialogue with Canadian corporate issuers to promote a Just Transition to a Net-Zero economy.

CEC remains committed to working closely with investor participants and Focus List companies, leveraging their insights to refine and enhance the Benchmark’s impact on companies, investors, and the broader transition to Net Zero.

CEC Disclaimer and Data Usage Terms and Conditions

The CEC Net Zero Benchmark does not score or rank corporate issuers, nor does it use overall numeric or alphabetic ratings. Please see both the CEC Disclaimer and the Data Usage Terms and Conditions for additional information.

CEC Net Zero Implementation and Progress

CEC Research and Education Contributors Quinn+Partners and Manifest Climate Inc. undertook an assessment of the CEC Focus List Companies against the CEC Net Zero Benchmark, with supportive review from Ernst & Young and the Canada Climate Law Initiative.  This process was guided by the CEC Joint Secretariat, with the approval and oversight of the CEC’s Technical and Steering Committees.

The CEC Net Zero Benchmark is a key element of the initiative’s engagement strategy and offers participant investors a common standard and a framework for dialogue with corporate issuers. The CEC Net Zero Benchmark includes ten disclosure indicators—as recommended by the Technical Committee (TC) and its Just Transition/Indigenous Issues Working Group (i.e., a subgroup convened by the CEC TC with labour, Indigenous, and finance experts)—whilst layering in additional context specific to Canada’s unique economy. The CEC Net Zero Benchmark was further refined by incorporating feedback from a consultation period, which involved CEC participant investors—including some of Canada’s largest asset managers and asset owners—, NGOs, and Indigenous representation.

The company assessments were based on the companies’ public disclosures from June 2022 to June 2023 and in line with the CEC evaluation guidance. Companies were provided with an opportunity to submit additional feedback or disclosures to be considered as part of the assessment process. The final results of the Benchmark assessment were completed by the Research and Education Contributors, with support from the CEC Joint Secretariat, and provided to CEC participants and Focus Companies in advance of the public release. Any disclosures that were published after the assessment period may be considered in future annual iterations of the Benchmark.

Over the coming months and following the approval of the program’s governance bodies, CEC will build on these assessments by publishing analysis and information on alignment indicators.

  • Barbara Zvan, President & CEO, UPP, and CEC Steering Committee Chair – “By providing a comprehensive and comparable view of a company’s progress against the net-zero transition, the CEC Net Zero Benchmark enables constructive, action-oriented, and ultimately, measurable dialogue between investors and key Canadian corporate emitters. The Benchmark sets a new standard and roadmap for collaborative stakeholder engagement in Canada, adding important momentum on our path toward a more sustainable future.”
  • Katie Wheatley, Head of Canada, UN-backed Principles for Responsible Investment (PRI), and CEC Steering Committee Vice Chair – “The CEC Net Zero Benchmark brings together a comparable, consistent set of standards to assess Canadian corporate issuer alignment with the Paris Agreement. The CEC Benchmark will serve as an important springboard for participating investors to drive progress towards net zero among important emitters across the Toronto Stock Exchange (TSX). The time is now for leadership on climate action among Canadian corporates, and the CEC Benchmark empowers investors to support further momentum for a just transition to a low-carbon economy.”
  • Maia Becker, Senior Director, Responsible Investment, RBC Global Asset Management, and CEC Technical Committee Chair – “The CEC’s first Net Zero Benchmark provides investors with a comprehensive view of progress and areas of opportunity for the Focus List companies, helping investors target their engagement efforts on areas that will have the most impact. As the world seeks to advance the transition to a net zero economy, RBC Global Asset Management is proud to support and collaborate with our peers on this critical initiative.”
  • Delaney Greig, Director, Investor Stewardship, UPP, and CEC Technical Committee Vice Chair – “The CEC Net Zero Benchmark is significant not only for its findings, but how it was developed – support from across the Canadian financial sector, alignment with global frameworks, and independent expert research and assessment. The Benchmark indicators channel both investor and issuer attention to the aspects of climate strategy and performance that matter most for economy-wide net-zero transition.”
  • Katharine Preston, Vice President, Sustainable Investing, OMERS, and Chair of the CEC Industry Leaders Advisory Panel – “Climate Engagement Canada is making a critical step forward with the launch of the Net Zero Benchmark. This tool provides support to investors as we engage with companies, focusing on the most critical areas as we navigate the transition. We look forward to the ongoing partnership with CEC members as we continue to make progress towards our net zero ambition.”
  • Peter Ellsworth, Senior Director, Ceres Investor Network, CEC Steering Committee Member and CEC Founding Organization  –  “By providing a structured framework for engagement between investors and companies, the CEC Net Zero Benchmark will help accelerate how companies align their business practices to net zero – and how investors can measure that progress. As one of the founding members of CEC, Ceres knows this formula works in successfully influencing the behaviour of companies engaged by investors.  The CEC assessment, which promotes both disclosure and action, will contribute to the necessary transition of these Canadian companies to a net zero and just economy.”
  • Pat Fletcher, CEO at RIA, CEC Joint Secretariat Co-Lead, and CEC Steering Committee Member – “The release of the CEC Net Zero Benchmark final assessment results represents another significant milestone for our initiative. Since its inception in 2021, CEC continues to foster constructive dialogue between investors and corporate issuers, accelerating Canada’s transition to Net Zero. These results acknowledge areas of positive progress among corporate issuers while identifying where additional strategic guidance and support are needed. This roadmap underscores the importance of ongoing engagement and dialogue to collectively elevate industry standards.”
  • Kevin Thomas, CEO at SHARE, CEC Joint Secretariat Co-Lead, and CEC Steering Committee Member – “These results reveal that when it comes to achieving our country’s climate commitments, all of us have a lot more work to do. We’re in the turn-around decade on climate. We can’t afford to waste any time. Let’s use this benchmark as a mutual work plan between investors and companies and show how much we can get done together when the next year’s results come in.”
  • Priti Shokeen, Vice President & Director, TD Asset Management Inc, CEC Industry Leaders Advisory Panel, and CEC Participant – The publication of the first Net Zero Benchmark is an important milestone for Climate Engagement Canada, and the results demonstrate there is steady progress in corporate climate action in Canada. The Benchmark provides investors with a blueprint for engagements with the CEC focus list of companies during this crucial early phase of the transition in Canada, while also providing companies with a roadmap and collaborative process to support them as they continue to improve on their goals and ambitions.
  • Adam Rochwerg, Head of Climate Solutions, Operations, Manifest Climate – “The benchmarking is powered by Manifest Climate’s proprietary AI-powered software engine to identify relevant public company disclosures with precision, speed, and accuracy. Manifest Climate’s software accelerates climate risk planning and provides clients with a clear, actionable roadmap to reaching climate goals. Manifest Climate creates a common language for decision makers to incorporate climate risk and opportunities into financial decision making by harnessing AI to reduce and standardize the manual work to categorize disclosure and assess peers.”
  • Tony Pringle, CEO and Co-Founder, Quinn+Partners – “We are delighted to help advance Canadian corporate climate action and a just transition toward a net-zero economy. The inaugural CEC Benchmark assessment is an important first step to foster constructive dialogue between leading corporations and investors. We look forward to seeing the Canadian market set the bar for climate engagement excellence and make meaningful progress.”
  • Thibaut Millet, Partner, Climate Change & Sustainability Services, Ernst & Young LLP – “Climate-related disclosures have become mainstream for almost a decade now, and the need for action is more urgent than ever. The reality is that investors, government regulators, stakeholders and the public are demanding far more than just disclosures from companies. It is not enough to simply offer long-term ambitions without a clearly articulated plan of how to achieve them. The focus is now on action that drives measurable results, as exemplified by the results of the CEC Net Zero Benchmark. The good news is that when companies shift their mindsets from a mere tick-box exercise to a real strategic analysis, they discover opportunities to thrive and create value.”
  • Sonia li Trottier, Director, Canada Climate Law Initiative – “We were pleased to contribute by reviewing the CEC Net Zero Benchmark as a Research Collaborator. The Benchmark will help investors assess and compare companies, and make informed investment decisions. We believe corporate engagement is key to driving climate actions, and the Benchmark will foster that engagement and collaboration between investors and the Focus List companies.”

About Climate Engagement Canada (CEC)

Climate Engagement Canada (CEC) is a finance-led initiative that drives dialogue between the financial community and corporate issuers to promote a just transition to a Net Zero economy. Through CEC, 41+ investor participants (with +$5.1T in assets under management covered by the initiative) (a) help Canadian public companies missed by global initiatives successfully evolve their business models and transition toward our country’s climate commitments, and (b) enhance the level of transparency into Canadian climate risk exposure and transition strategies. In 2019, Canada’s Expert Panel on Sustainable Finance made a recommendation to establish a national engagement program to drive a broader and more consistent dialogue with Canadian issuers around climate risks and opportunities (Recommendation 10.2). CEC is a response to that call to action.

Through multi-year CEC engagements, company boards and senior leaders of Canadian companies can learn about the concerns and expectations of the financial sector as they relate to a timely transition to Net Zero emissions by 2050. This includes i) Strong governance frameworks with oversight of climate change risks and opportunities; ii) GHG-emission reduction strategies consistent with the goals of the Paris Agreement; iii) Measurable, sector-relevant targets; iv) Global standard disclosures (e.g., Task Force on Climate-related Financial Disclosures); and, v) Paris Agreement-aligned advocacy activities. CEC is coordinated by its Joint Secretariat: The Responsible Investment Association (RIA) and the Shareholder Association for Research and Education (SHARE). The initiative is also supported by the international investor networks the UN Principles for Responsible Investment (UNPRI) and Ceres.

For media inquiries, please contact: cec@riacanada.ca.

November 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Madeline Cann (RIS), NEI Investments (Aviso Wealth)
Robert Coruzzi (RIS), Meridian Credit Union
Shelly Dundas (RIS), First West Credit Union
Lindy Homenick (RIS), Prospera Credit Union
Brenda Horan (RIS), Horan & Associates Brokers Inc.
Erin Ludvigson (RIS), Synergy Credit Union
Rottem Maor (RIS), Fidelity Investments Canada
Vadims Martinovs (RIS), Meridian Credit Union
Shafin Rana (RIS), Servus Credit Union | Credential Asset Management
Roman Stadler (RIS), Credential/Meridian
Stephanie Wallis (RIS), FirstOntario Credit Union

The GSIA Releases its Global Sustainable Investment Review 2022

Review finds US$30 trillion invested in sustainable assets

  • $30.3 trillion is invested globally in sustainable investing assets.
  • Data published in new GSIA report – Global Sustainable Investment Review 2022 – the 6th edition of this landmark publication.
  • In non-US markets, sustainable investment assets under management (AUM) have increased by 20% since 2020.
  • Increased rigour in US results in decline in assets labelled as ‘sustainable’
  • Findings reflect continued efforts by industry, regulators and policymakers to better define sustainable investments and address greenwashing risks, leading to more reliable measurements of global sustainable AUM.
  • Launched to inform discussions at COP28, sustainable investment organisations from across the world make a series of policy recommendations for the international community to consider.

The Global Sustainable Investment Alliance (GSIA) has today published its sixth edition of the biennial Global Sustainable Investment Review (GSIR), sponsored by HSBC Global Research, finding that US$30.3 trillion is invested in sustainable assets globally.

The report shows that in non-US markets – Canada, Europe, Japan, Australia and New Zealand – there has been a 20% increase in sustainable assets under management (AUM) since the 2020 GSIR.

The report also showcases a maturing of the industry, which includes the adoption of tighter definitions of when a fund can be described as ‘sustainable’. These newly imposed standards were a direct response to growing concerns around ‘greenwashing’ and thus impacted how the US SIF has measured ‘sustainable assets’ in the period to 2022. As a result of the US SIF’s methodology change, the report finds a drop from $17tn in reported AUM in the United States in 2020 to $8.4tn in 2022.

Similarly, in Europe, the long-term trend suggests that the proportion of assets defined as ‘sustainable’ has been declining by around 5% per year. Increased requirements around disclosure regulations and the tightening of definitions around sustainable investing and its related approaches may be contributing to this decline.

A wider trend is also emerging globally highlighting the need for clearer definitions and a more shared understanding around what makes a sustainable asset ‘sustainable’. Further developments can be expected in the years to come, as the EU’s Sustainable Financial Disclosures Regulation (SFDR) continues to evolve, alongside other global disclosure and labelling approaches, and as data availability and quality increases.

The sustainable and responsible investment industry’s continued maturation is also visible in the strategies being deployed by firms and their clients to promote sustainable outcomes. The GSIR finds investors are increasingly making use of corporate engagement and shareholder action to drive corporate change and reduce sustainability-related investment risks.

James Alexander, GSIA Chair, said:

“The global sustainable finance industry is continuing to mature, with the introduction of clearer disclosure and labelling regimes – such as the EU’s SFDR, the UK’s SDR, and the SEC’s proposed Climate Disclosure Rule – helping drive forward our collective understanding of sustainable investment approaches and providing clarity over how sustainable investments are defined.

“But much more can be done to accelerate the transition to a sustainable future. That is why, for the first time, GSIA has made a series of policy recommendations in the GSIR – covering measures to increase investment opportunities in the net-zero transition, the need for closer global alignment on sustainable finance regulations, enhanced data sharing, and a sharper focus on disclosure of nature and biodiversity risks and opportunities.

“With the right actions and support from policymakers around the world, the global finance industry can play a prominent role in helping bring about positive change in the years to come.”

Maria Lettini, CEO of the US Sustainable Investment Forum (US SIF) said:

“The GSIA report on sustainable investment trends comes at a critical juncture in the global investment industry.

“While we continue to elevate the need to address our own nuanced local financial market challenges, we also support the incorporation of enhanced rigor and learnings from our peers across regions.

“I applaud the collaborative work of the GSIA secretariat to align the diverse regional approaches of the SIFs across the world into a strong holistic sustainable investment voice as we address global policymakers ahead of COP 28.”

Simon O’Connor, Chief Executive of the Responsible Investment Association Australasia, said:

“This year’s GSIR shows a clear story of a rapidly maturing industry, whereby standards have lifted across the world, to a point today where it is simply not sufficient to say you are doing responsible and sustainable investment, without being able to clearly articulate the real impact you are having.

All in all, we welcome these developments that our organisations have been long advocating for, as we see this will result in a stronger industry, that delivers more capital to creating the positive change we need to deliver on a net zero transition.”

Proposals made by GSIA in the report include the convening of a Sustainable Finance Regulatory Convergence Taskforce, which could make recommendations for improvements and greater alignment of regulations in force across the world.

GSIA is also calling for the widespread and rapid adoption of a global baseline for strengthened corporate sustainability disclosures as well as for ESG ratings and benchmarks, to help ensure investors have access to transparent, accessible, and comparable data when making investment decisions. The report also urges the global adoption of the disclosure recommendations prepared by the Taskforce on Nature-related Financial Disclosures (TNFD) and the incorporation of TNFD reporting for corporations into the International Sustainability Standards Board (ISSB) framework.

About the Global Sustainable Investment Review

The Global Sustainable Investment Review 2022 is the sixth edition of this biennial report mapping the state of sustainable investment in the major financial markets globally. This edition collates results from the US Sustainable Investment Forum (US SIF), Japan Sustainable Investment Forum (JSIF), the Responsible Investment Association Canada (RIA Canada) and the Responsible Investment Association Australasia (RIAA). Eurosif and UKSIF do not collect data directly; data for the European region has been sourced from the European Fund and Asset Management Association (EFAMA).
All 2022 assets are reported as of 31 December 2021, except for Japan which reports as of 31 March 2022. Each region or country covered by this report uses a different method to collect data for its respective report. The consolidation in this report is made on a best-effort basis, based on best available regional data.

About The Global Sustainable Investment Alliance

The Global Sustainable Investment Alliance (GSIA) is an international collaboration of membership-based sustainable investment organisations around the world. Its members are: Eurosif (European Sustainable Investment Forum), UKSIF (UK Sustainable Investment and Finance Association), US SIF (US Sustainable Investment Forum, Japan Sustainable Investment Forum (JSIF), the Responsible Investment Association Canada (RIA Canada) and the Responsible Investment Association Australasia (RIAA). Its aim is to unlock the power of the worldwide financial services industry to drive leadership, achieve a substantial impact on key global challenges, and accelerate the transition to a sustainable future. For more information, visit gsi-alliance.org.

The secretariat of GSIA is hosted by UKSIF, and the GSIA Chair is the UKSIF Chief Executive.

About the Responsible Investment Association

The Responsible Investment Association (RIA) is a nonprofit, membership-based organization dedicated to the advancement of responsible investment in Canada. The RIA’s membership is composed of over 600 institutional investors and investment professionals who practice and support responsible investing.

October 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Sandra Beaulieu (RIS), Tandia Credit Union
Wendy Belfry (RIS), Kootenay Savings Credit Union
Angeline Christensen (RIS), KSCU MoneyWorks
Juan De Leon (RIS), RBC Global Asset Management
Sean Elbourne (RIS), Encasa Financial Inc
Christina Graham (RIS), Self employed
Bryan Hames (RIS), Tandia Financial Credit Union
Eric Hoiting (RIS), Meridian Credit Union
Rowan Hughes (RIS), IPC Securiteis
Louis-Philippe L-Lajoie (RIS), Equilibre Finances Assurances et Placements inc.
Renald Lacroix (RIAC)
Nancy Laguë (RIS), Desjardins Caisse Solidaire
Philippe Lavoie (RIAC)
George MacKay (RIS), Tandia Financial Credit Union
Alexandre Ouellet-Gendron (RIPC)
Crystal Pazitka-Perry (RIS), Libro Credit Union
Darryl R MacDonald (RIS), Servus Credit Union
Michael R Pigeon (RIS), Credential Asset Management Inc.
Brij Raj Purohit (RIS), Prospera Credit Union
Enrika Rodrigue (RIPC)
Christine Savard (RIS), VMBL
Shauna Wakeman (RIS), Tandia Financial Credit Union
Dan Yanke (RIS), TD Wealth Private Investment Advice

Conviction Behind Responsible Investing Grew Stronger Despite Polarization and Economic Disruption

TORONTO – October 26, 2023 – Conviction behind responsible investing has only grown stronger, according to new data from the 2023 Canadian Responsible Investment (RI) Trends Report. Released today by Canada’s Responsible Investment Association (RIA), the report tracks the national trends and outlook for RI, which refers to investments that incorporate environmental, social, and governance (ESG) issues into the selection and management process.

This 2023 Report, the first the RIA has produced annually instead of biennially, saw the proportion of RI Assets Under Management (AUM) increase to 49% —even as AUM in general decreased. Global investor momentum to enhance, align, and embed sustainability reporting in capital markets is seeing strong ripple effects in Canada, which will grow stronger over time with the international uptake of emerging standards.

This year’s data shows a marked increase in investor confidence related to the quality of ESG reporting—both overall and concerning their own reported data. With greater sophistication around RI leading to increased scrutiny and higher expectations, investors eagerly await globally consistent definitions, standards and frameworks. This will provide the common language and comparability needed to boost confidence and address persisting concerns about greenwashing, disclosure, and data integrity.

“As sustainability issues increasingly define investment risk and opportunity, the financial sector is codifying RI practices, ramping up transparency and reporting, and pushing for greater clarity and certainty,” says Patricia Fletcher, CEO of the RIA. “I am optimistic about the future of RI in Canada and the opportunity to embrace the global momentum behind emerging tools – from disclosure standards to green and transition taxonomies – in ways that advance Canada’s priorities, including economic Indigenous reconciliation.”

Investors remain committed to implementing sound RI practices and adopting formal policies, and they are increasingly sharing this information publicly. Their consideration of ESG factors in investment decisions continues to be motivated by the same top factors as in the previous three surveys: minimizing risk and improving returns. Together with the upward trend of RI market share, this points to the steadfast conviction of responsible investors.

Key findings from the 2023 Report:

  • Minimizing risk is the top-ranked reason organizations consider ESG factors, followed by improving returns over time, and fulfilling fiduciary duties.
  • GHG emissions are the most common ESG factor considered in investment decisions, followed by board diversity and inclusion, and climate change mitigation.
  • ESG integration is the most commonly used RI strategy, followed by corporate engagement and negative screening. Over 50% of respondents say they are using impact investing.
  • Nearly 6 in 10 organizations feel more confident about the overall quality of ESG reporting compared to last year.
  • The top three deterrents to RI growth, according to respondents, continue to be greenwashing, lack of standardized disclosure frameworks, and lack of reliable data.
  • Growth in RI is being driven by climate change, investor demand for ESG/impact, and regulatory guidance/requirements.

Quotes from 2023 Canadian RI Trends Report Partners:

  • “Witnessing a rise in the proportion of RI assets amid a pullback in total AUM due to very difficult markets in 2022 distinctly validates the importance of responsible investing and the commitment organizations hold for it,” said Roger Beauchemin, President and CEO of Addenda Capital. “As tomorrow’s challenges grow increasingly complex, managing risk is top of mind for many. We can reasonably expect RI assets to expand, thanks to the ongoing development and implementation of standards, continual improvement in data quality, and increasing confidence toward ESG reporting.”
  • “As a long-standing supporter of the Responsible Investment Association (RIA) AGF Investments applauds the important work, advocacy, and research they are doing to drive change in the sustainable investing space” said Karrie Van Belle, Chief Marketing and Innovation Officer, AGF Investments. “The Responsible Investment Trends Report provides advisors and investors with in-depth insights into the national trends and outlook for responsible investing, while capturing the evolution and forward-looking changes that have been unfolding in recent years.”
  • “It is encouraging to see the maturation of responsible investing across Canadian money managers,” said Fate Saghir, SVP, Head of Sustainability, Mackenzie Investments. “This is especially apparent in the consideration of ESG to minimize risk over time which is a practice that we, at Mackenzie, have implemented across our diversified investment boutiques to align to client outcomes.”
  • “It is heartening to see that asset managers and owners continue to put their clients’ needs first when it comes to the application of responsible investment strategies—as they must,” said Adelaide Chiu, VP, Head of Responsible Investing at NEI Investments. “The fact that reducing risk, improving returns and fulfilling fiduciary duty remain top reasons for consideration of material non-financial information underscores the importance of ESG integration. As standardization of disclosures improves and confidence in reporting rises, there will be no reason to ignore that information in the pursuit of Canadians’ investment success.”
  • “RBC Global Asset Management is proud to continue our collaboration with RIA Canada by sponsoring the 2023 Canadian Responsible Investment Trends Report. Research such as this provides important education and insights into the evolving ESG landscape for Canadian advisors and investors, which is a shared priority for both of our organizations.” Melanie Adams, Vice President and Head, Responsible Investment, RBC Global Asset Management

 About the Canadian RI Trends Report 

The RIA publishes the Canadian Responsible Investment Trends Report to understand and assess the characteristics of responsible investment in Canada. Environics Research completed this study on behalf of the RIA. The results are based on input from organizations invited to participate in an online survey between May 9th and July 6th, 2023 as well as desk research completed by the RIA. All figures are stated in Canadian dollars as of December 31st, 2022. The previous survey was conducted in 2022, and before that, surveys were conducted biennially. The 2023 report was generously sponsored by Addenda Capital, AGF Investments, Mackenzie Investments, NEI Investments, and RBC Global Asset Management.

About the Responsible Investment Association (RIA)

The RIA is Canada’s industry association for responsible investment. The RIA’s membership includes asset managers, asset owners, advisors, and service providers who support its mandate of promoting responsible investment in Canada’s retail and institutional markets. RIA institutional members collectively manage more than $40 trillion in assets. Learn more at www.riacanada.ca.

For more information or interview requests, please contact:

Ady Jonsohn
Vice President, Content Development and Delivery
Responsible Investment Association
+1 416-461-6042

September 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Ibrahim Abou-Merhi (RIS), PenFinancial Credit Union
Jennifer Banks (RIPC)
Gail Blackman (RIS), Meridian Credit Union
Élias Boubezari (RIS), Desjardins
Kathleen Cresswell (RIS), Kootenay Savings Credit Union
Christina Dawn Sutton (RIS), Christian Credit Union Ltd.
Ryan Devine (RIS), Libro Credit Union
Sukhi Dhaliwal (RIS), Sunshine Coast Credit Union
Jason Ferland (RIS), Ma finance services financiers inc.
Coleton Gieck (RIS), Interior Savings Credit Union
Jacqueline Greenslade (RIS), Alterna Savings
Joshua Holden (RIS), Libro Credit Union
Marolyn Hum (RIS), Vancity
Nicole Jubinville (RIS), Synergy Credit Union Ltd
Kavaughn Kymn Boismier (RIS), Meridian Credit Union
Matthew Marino (RIS), BMO Nesbitt Burns Private Wealth
Nabil Nazarali (RIS), NEI Investments
Annie Nolan (RIS), Island Savings, A Division of First West Credit Union
Priyal Patel (RIS), Servus Credit Union
Christine Pelletier (RIS), GMF Groupe financier
Christelle Pruvost (RIS), Desjardins
Nathan Rundle (RIS), Libro / Credential Asset Management Inc.
Valérie Sauvé (RIS), Caisse Desjardins de l’Administration et des services publics
Cortni Stothers (RIAC)
Tammy Tanner (RIS), BlueShore Wealth
Zi Tian Jia (RIS), Alterna Savings
Shane Tiley (RIPC)
Nicolas Villeneuve (RIS), IG gestion de patrimoine
Liam Winegard (RIPC)

August 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Marlene A Goosen (RIS), FirstOntario Insurance
Taylor Alber (RIS)
Wilford Ang (RIS), Credential Asset Management
Jennifer Banks (RIPC)
Vicky Benedetti (RIS), IG wealth Management
Martin Brassard (RIS), VMBL
Etienne Chaput (RIAC)
Lucy (xiaoxiao) Chen (RIS), Alterna Savings
Sandra Lena Dauvin (RIS), Synergy Credit Union
Valérie Desrochers (RIS), Desjardins
Kirsten Fisher (RIS), Synergy Credit Union
Peter Fraser (RIS), Credential Financial Strategies
Audrey Gilbert (RIS), Desjardins
Emily Gray (RIS), Alterna Savings
Darshpreet Juneja (RIS), Alterna Savings
Gilda Lio (RIS), Aviso Wealth
Scott McMillan (RIS), Meridian Credit Union
Trevor Miller (RIAC)
Sobonnie Benjamin Muon (RIS), National Bank Financial Wealth Management Street
Tina Nanette Davenport (RIS), Northern Savings Credit Union
Connor Neil (RIS), Alterna Savings
Aurelien Oliveira (RIS), Desjardins
Panpong Micky Panleartkitsakul (RIS), Kindred Credit Union
Janie Raymond (RIS), Valeurs mobilières Banque Laurentienne
Shawn Ritter (RIS), Avanti Wealth/Credential Asset Management
Jacqueline Rizza (RIS)
Timothy John Scott (RIS), Meridian Credit Union
Saima Shams (RIS), Alterna savings
Kshitiz Sogani (RIS), Vancity Credit Union
Erik Stager (RIS), Kindred Credit Union
Patrick Uy (RIS), Alterna Savings
Annie Wang (RIS), Meridian Credit Union
Liam Winegard (RIPC)

July 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Todd Bouchard (RIS), Servus Credit Union
Guilbert Cyr Lépine (RIS), Gestion Financière Blondeau
Katherine Guan (RIS), Vancouver City Savings Credit Union
Kimberley Inglis (RIAC)
Tyler Kochuta (RIS), Meridian Credit Union
Avneet Mann (RIS), First West Credit Union
Sara Nasseri (RIS), Vancity Savings/ Credential Asset Management
Gayane Trfandyan (RIS), Meridian CU
Brandon Wildeman (RIS), Synergy Credit Union

June 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Amit Bansal (RIS), Affinity Credit Union
Jacob Matthew Ellsworth (RIS), Co-operators
Nicholas Farah (RIS), iA Clarington
Jean-François Girard (RIAC)
Mathieu Harrisson (RIS), Finandicap. Inc.
Nancy Hétu (RIAC)
Bailey Kasum (RIS), Northern Savings Financial Services Ltd
Andrew Kerr (RIS), Vancity
Rasa Kisielyte (RIS), IA Clarington
Rich Lewis (RIS), Credential Asset Management
Marie-Josée Lindsay (RIS), Desjardins
Seth Nerman (RIS), Davis Nerman Wealth Group, Assante Wealth Management
Pastor Ochoa (RIS), hrive Wealth Management
Nathalie Painchaud (RIS), Desjardins
Richard Pennington (RIS), Meridian Credit Union
Steven Persaud (RIS), Self (Everest Financial Services Inc.)
Bobbi-lee Read (RIS), Lakeland Credit Union
John Restagno (RIS), John Restagno Investments and Insurance Inc
Joseph Warner (RIS), Edward Jones
Sahan Wijetunga (RIS), Credential Asset Management
Kelsie Marie Wilkins (RIS), Affinity Credit Union

May 2023 Recipients of RI Credentials

Congratulations to Canada’s newest recipients of the RIA’s financial credentials in recognition of expertise in responsible investing. View a full list of RIA credential holders here.

Learn more about the RIA’s training and credentials here.

Nathan Amor (RIS), connectFirst Wealth
David Arnold (RIS), Caisse Desjardins Des Bois-Francs
Dixit Bajaj (RIS), Connect First Credit Union
Jennifer Banks (RIS), NEI Investments
Bo Banner (RIS), Independent
Jessica Brooke (RIS), Fidelity Investments Canada
Christina Carter (RIS), connectFirst Wealth Credential Securities
Harrison Chen (RIS), Desjardins Financial Security
Daniel Chiang (RIS), Gulf & Fraser
Antonio Cordeiro (RIS), Investia services financiers
Nicolas Dessureault (RIS), Desjardins
Marie-Eve Duchesne (RIAC)
Andréanne Gendron (RIS), Desjardins
Marylou Grondin Santerre (RIS), UNI coopération financière
Christian Haché (RIS)
Adam Harvey (RIS), Connect First Credit Union
Sarah Holmes (RIS), Kawartha Credit Union
Nancy Hudon (RIAC)
Marie-Pier Lafortune (RIAC)
Stuart Lawson (RIS), Connect First Wealth
Benoit McElligott (RIAC)
Derek Mychasiw (RIS), Credential Financial Stratigies
Ronny Reaume (RIS), Libro Credit Union
Ylani Roy (RIS), iA Groupe financier
Emilie Sauvé (RIAC)
Kenneth Sinn (RIPC)
Gabriela Szasz (RIS), Credential Asset Management/Kawartha Credit Union
Meron Terffa (RIS), Assiniboine Credit Union
Jessica Tomczak (RIS), NEI Investments
Maxim Tremblay (RIAC)
Ben Vandervies (RIS), Credential Asset Management
Thomas Witherspoon (RIS), Harvest Wealth Management

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