UPDATES

Left picture: Brian Minns (middle), Vice-President, Sustainable Investing at Addenda Capital discussed shareholder engagement and impact investment at a CFA Montréal event in May. The panel also featured Andrew Parry (left), Head of Sustainable Investing, Hermes Strategy Group, and was moderated by Odrey Robillard, Senior Advisor, Investment Stewardship at CDPQ. Right: Addenda Capital’s inaugural TCFD report was launched in June 2019.

 

In May, Brian Minns, Vice-President, Sustainable Investing, spoke at two CFA Society events in Montréal and in Toronto respectively. Both events focused on sustainable investing and he discussed recent developments and their impacts on investors and issuers.

The Co-operators, Addenda’s largest shareholder, was named the #1 Corporate Citizen in Canada by Corporate Knights in their 2019 Best 50 list. The ranking measures companies’ environmental, social, and governance-related sustainability performance. Addenda Capital’s efforts to allocate an increasing share of The Co-operators’ portfolio to impact investments contributed to winning this award.

Addenda Capital is proud is to be among the 20 institutional investors who worked together through the UNEP FI to pilot the recommendations of the Task Force on Climate-related Financial Disclosures. The group’s report was published in May.

In June, Addenda Capital published its first report following the final Task Force on Climate-related Financial Disclosures (TCFD) recommendations. It presents the Company’s approach to identify and manage climate-related risks and opportunities and how Addenda supports the transition towards a low-carbon economy.

 

FIRM-WIDE INITIATIVES


PROMOTING SUSTAINABLE FINANCIAL MARKETS — RAISING STANDARDS

Joining Forces to Advance Sustainability
Addenda Capital joined the US Forum for Sustainable and Responsible Investment (US SIF). The mission of the US SIF is to shift investment practices towards sustainability. The organization focuses on long-term generation of positive social and environmental impacts. As a member, Addenda will have access to US SIF webinars, events and cutting-edge research.

Commenting on Ontario Securities Commission’s priorities?
In response to an Ontario Securities Commission (OSC) request for comments1, Addenda highlighted the importance of investors’ duties and disclosures regarding environmental, social and governance risks and the need for greater issuer disclosure regarding cybersecurity governance and risk management. In addition, Addenda supports the OSC’s continued focus on monitoring progress on disclosure related to women on boards and in executive officer positions. Furthermore, Addenda recommended the prioritization of new disclosure requirements for issuers regarding climate change.

 

1 OSC Notice 11-785 Statement of Priorities for Financial Year to End March 31, 2020

 

PRODUCT-SPECIFIC INITIATIVES

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