Financial institutions, funds join forces on climate change

Thirty financial institutions and pension funds managing assets of roughly $1.2 trillion are calling on Canadian companies to disclose their exposure to climate change risks.

The group of Canadian and international institutions—which includes Finance Montréal, Desjardins, Caisse de dépôt et placement du Québec and the British Columbia Investment Management Corporation—plan to help publicly traded companies mitigate their climate change risks. The joint Declaration of Institutional Investors on Climate-Related Financial Risks identifies investments in companies that promote energy transition and that have low emissions.

Read: Do TSX-listed issuers adequately disclose climate-related risks?

“With more information at their disposal, investors will be able to better assess all the risks faced by their investment portfolios and design investment strategies that are adapted to the realities of climate change,” said Louis Lévesque, CEO of Finance Montréal, in a release.

Read the full declaration and see the list of signatories here.

Read: S&P Dow Jones launched 3 climate change indices

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.