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Funds Europe: The European Fund and Asset Management Association (Efama) has found that engagement with companies is a primary priority for institutional investors applying ESG criteria to their portfolios.
BNN Bloomberg: A group of financial institutions including Morgan Stanley, Bank of America Corp. and Citigroup Inc. are introducing a global accounting standard to gauge the climate impact of financial transactions.
Private Equity Wire: Limited Partners surveyed in the inaugural Brackendale Private Equity ESG LP sentiment survey 2020 rank ESG criteria an average 7.5 out of 10 in terms of importance when making an investment decision.
BNN Bloomberg: Allianz SE’s Pacific Investment Management Co. was sued by a pair of female workers who allege the money manager operates as a fraternity that favors white males.
BNN Bloomberg: BlackRock Inc. Chief Executive Officer Larry Fink said how companies approach environmental, social and governance issues has become a defining factor for investors.
Pensions & Investments: In likely his final appearance before the Senate Banking Committee, SEC Chairman Jay Clayton received warm wishes Tuesday on his future endeavors and some pointed criticisms from Democrats on issues like climate change risk disclosures. [Full article available to Pensions & Investments subscribers.]
Reuters: Investors are pushing major European companies to make sure the “missing” costs of climate change are properly reflected in their financial statements, a move that could wipe billions of dollars off the value of sectors from energy to aviation.
Established in 1962, the Ontario Municipal Employees Retirement System (“OMERS”) is responsible for the pensions of over half a million employees from local agencies across Ontario. As at December 31, 2019, they had $CAD 109 billion of assets under management.
As part of its responsible investment approach, OMERS integrates specific environmental, social and governance (ESG) considerations when assessing potential new investments and monitoring investee companies. With regards to Climate Change, OMERS works to mitigate this issue by pricing climate-related financial risks. Further, they engage with portfolio companies to improve their reporting and transparency in order to improve their understanding of climate risks. Finally, OMERS supports the Task Force on Climate-Related Financial Disclosures (TCFD) and collaborates with peers through the Investor Leadership Network (ILN).
Statement of Investment Beliefs
Bloomberg: The natural world is in crisis: Global wildlife populations have declined by an estimated two- thirds on average in the past 50 years, up to 1 million species are thought to face extinction and many of the earth’s ecosystems are badly damaged. [Full article available to Bloomberg subscribers.]
Pensions & Investments: Six France-based money managers have called on the country's largest listed companies to increase the proportion of women in senior management to one-third by 2025. [Full article available to Pensions & Investments subscribers.]
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