Driving corporate change for sustainable value.

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.

The financial community working together towards a net-zero economy.

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.

Climate Engagement Canada use finance to drive dialogue and to promote a just transition to a net zero economy.

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.

Greenhouse gas emissions by economic sector in Canada from 1990 to 2021, from Environment and Climate Change Canada.

A voice for Vancity members.

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:

‍Costco: VCIM filed a shareholder proposal with Costco Wholesale Corporation that requests the company to map their supply chain and report on the risks associated with biodiversity loss. Through ongoing conversations, Costco is on-track to fulfill its commitments to complete a disclosure report in line with the Task Force for Nature Related Disclosures (TNFD) framework and an impact assessment report on a material supply chain by the end of 2024.
‍TD, CIBC, Scotiabank, and RBC: VCIM filed shareholder resolutions with TD, CIBC, Scotiabank, and RBC asking them to publish their CEO to median worker pay ratios. In 2022, because of VCIM engagement, Scotiabank agreed to publish their CEO-to-median-worker pay ratio.
‍West Fraser Timber and Canadian Pacific Kansas City (formerly CP Rail): VCIM is currently engaging both companies to implement governance frameworks that prioritize climate, develop, and implement net-zero strategies, and set measurable and sector-relevant targets.

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:

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‍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: