The United Church of Canada Pension Plan joined 34 other institutional investors to sign a Canadian Investor Statement on Climate Change. Collectively, these investors manage more than $5.2 trillion in assets.
Coordinated by the Responsible Investment Association (RIA), the Statement also makes clear the actions major Canadian investors will take to advance the global pursuit of net zero ahead of the most important climate gathering in history – COP26. This includes disclosing their financed emissions and setting an expectation that their investees will establish emissions targets and report on their progress.
Marcus Robertson, Chair of the Pension Board, said, “The Pension Plan has endorsed the Canadian Investor Statement on Climate Change as part of the Plan’s journey to net zero. The Plan has made strides through its engagement efforts, but this significant commitment to net zero by 2050 will require changes to the Plan’s investment strategy, as long-term goals are established, portfolios are adjusted and progress towards those goals is measured.”
RIA worked closely with the Reconciliation and Responsible Investment Initiative (RRII) in the development of the Statement to ensure Indigenous perspectives are incorporated into the Statement. “Despite Indigenous Peoples often being the first and most affected by the climate crisis, Indigenous perspectives and voices are often left out of investors’ decision-making on climate action,” says Mark Sevestre, Founding Member of NATOA. “This raises the stakes of the transition to a low carbon economy for Indigenous Peoples. For the transition to be just in Canada, Indigenous Peoples’ rights and perspectives need to be centred and prioritized.”