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 system.
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.”
“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.”
Frederick M. Pinto, Senior Vice President and Head of Asset Management with NEI Investments, said:
“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.”
Melanie Adams, VP & Head, Corporate Governance & Responsible Investment with RBC Global Asset Management added:
“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.”
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.
Source Yahoo Finance