Vancity Investment Management (VCIM) plays a major role in a number of important shareholder engagements, and in 2022 conducted engagement with 21 companies in its portfolios on climate-related issues.
The climate crisis is about people, and it requires immediate action. Financial institutions have enormous impact and must play a role in Canada’s climate transition to net-zero. It’s why ‘Climate, energy and just transition’ is one of the impact areas that drive VCIM’s engagement framework.
Collaborating on shareholder engagements can be more effective than tackling issues alone. It’s why VCIM is a proud founding participant of Climate Engagement Canada (CEC), an investor-led engagement initiative to promote a just transition towards Canada’s climate goals.
Investors have the power to advocate for change and influence key decisions within publicly traded companies. With other investors, VCIM strategically engages with companies in its portfolio to align on climate risk governance, disclosure, and the transition to a low-carbon economy in Canada.
Representing more than $4.9 trillion in assets, Climate Engagement Canada is a group of 39 investors that focus on engaging companies listed on the Toronto Stock Exchange (TSX) that have been identified as top greenhouse gas emitters and have a significant opportunity to be part of Canada’s a low-carbon future.
Most companies in focus of CEC’s engagement operate across the Canadian economy in the oil and gas, utilities, mining, agriculture & food, and transportation sectors.
VCIM’s engagement work advances multiple impact areas that put people at the centre of climate action. From 2022 to the second quarter of 2023, VCIM supported 21 shareholder statements, engaged with 49 individual companies in our portfolios, and filed 10 shareholder resolutions.
Some of the companies engaged by Vancity Investment Management in 2023 are:
Joe Reid, VP of Impact Investing and Wealth Management at Vancity, on BNN Bloomberg discussing some of our initiatives that focus on governance and responsible investing:
Explore our shareholder engagement report for a comprehensive look at how VCIM uses the power of stakeholder engagement to encourage businesses to help build a clean and fair world:
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