| Overall Rating | Silver - expired |
|---|---|
| Overall Score | 60.05 |
| Liaison | Beverley Ayeni |
| Submission Date | Dec. 11, 2020 |
University of Toronto Mississauga
PA-9: Committee on Investor Responsibility
| Status | Score | Responsible Party |
|---|---|---|
|
0.00 / 2.00 |
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indicates that no data was submitted for this field
Does the institution have a formally established and active committee on investor responsibility (CIR) or equivalent body?:
Yes
The charter or mission statement of the CIR or other body which reflects social and environmental concerns or a brief description of how the CIR is tasked to address social and environmental concerns:
RESPONSIBLE INVESTING COMMITTEE
The Responsible Investing Committee oversees all matters relating to the development and implementation of our responsible investing practices including the following activities:
Develops and approves our Responsible Investing Policy for Management Committee and Board approval
Sets annual responsible investing objectives, including those specifically related to climate issues
Identifies and evaluates evolving best practices with respect to responsible investing
Approves and oversees the implementation of responsible investing practices
Provides appropriate training for staff
Develops responsible investing reporting to stakeholders
Oversees annual PRI reporting
Considers any other relevant matters
The Committee is composed of the President (Chair), the Investment Heads, the Chief Risk Officer and Head of Research, and the Chief Operating Officer.
From time to time, other staff may be invited to join the Committee.
The Responsible Investing Committee oversees all matters relating to the development and implementation of our responsible investing practices including the following activities:
Develops and approves our Responsible Investing Policy for Management Committee and Board approval
Sets annual responsible investing objectives, including those specifically related to climate issues
Identifies and evaluates evolving best practices with respect to responsible investing
Approves and oversees the implementation of responsible investing practices
Provides appropriate training for staff
Develops responsible investing reporting to stakeholders
Oversees annual PRI reporting
Considers any other relevant matters
The Committee is composed of the President (Chair), the Investment Heads, the Chief Risk Officer and Head of Research, and the Chief Operating Officer.
From time to time, other staff may be invited to join the Committee.
Does the CIR include academic staff representation?:
No
Does the CIR include non-academic staff representation?:
No
Does the CIR include student representation?:
No
Members of the CIR, including affiliations and role:
The Committee is composed of the President (Chair), the Investment Heads, the Chief Risk Officer and Head of Research, and the Chief Operating Officer.
From time to time, other staff may be invited to join the Committee.
From time to time, other staff may be invited to join the Committee.
None
Examples of CIR actions during the previous three years:
The University of Toronto Responsible Investing Report for 2019-2020 is linked below.
Here are a few of the notable highlights:
We remain committed to taking decisive action on climate change. We have made significant progress toward the ambitious goal we announced earlier this year: to reduce the carbon footprint of the Pension and Endowment portfolios (“the portfolios”) by at least 40% compared to 2017 levels by the end of 2030. As of December 31, 2019, the carbon footprint was 109.3 tonnes of CO2 equivalent per million dollars invested, a reduction of 19.7% from 2018 and 21.5% from 2017. Importantly, the absolute emissions in the portfolios have also decreased by 12.9% since 2017.
In early 2020, we endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). U of T was the first Canadian university to make this endorsement with respect to its Pension and Endowment funds. For the first time, we are providing disclosures in line with the TCFD recommendations. We have included them in this report.
We received the results from the second and third assessments of our responsible investing activities by the Principles for Responsible Investment (PRI): in 2019, five A+ marks and one A, and in 2020, six A+ marks. We scored above median in all categories in both years.
We continued to collaborate with like-minded institutional investors and take on advisory and leadership roles in organizations relevant to responsible investing. Our President and CIO, Daren Smith, was appointed to the board of the Canadian Coalition for Good Governance in 2019, and this year he became Vice-Chair of the organization’s Environmental & Social Committee. In 2020, we joined the International Corporate Governance Network, a leading authority on global standards of corporate governance and investor stewardship. We also continued to participate in engagement activities as part of Climate Action 100+, as well as through specialized engagement service providers.
Here are a few of the notable highlights:
We remain committed to taking decisive action on climate change. We have made significant progress toward the ambitious goal we announced earlier this year: to reduce the carbon footprint of the Pension and Endowment portfolios (“the portfolios”) by at least 40% compared to 2017 levels by the end of 2030. As of December 31, 2019, the carbon footprint was 109.3 tonnes of CO2 equivalent per million dollars invested, a reduction of 19.7% from 2018 and 21.5% from 2017. Importantly, the absolute emissions in the portfolios have also decreased by 12.9% since 2017.
In early 2020, we endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). U of T was the first Canadian university to make this endorsement with respect to its Pension and Endowment funds. For the first time, we are providing disclosures in line with the TCFD recommendations. We have included them in this report.
We received the results from the second and third assessments of our responsible investing activities by the Principles for Responsible Investment (PRI): in 2019, five A+ marks and one A, and in 2020, six A+ marks. We scored above median in all categories in both years.
We continued to collaborate with like-minded institutional investors and take on advisory and leadership roles in organizations relevant to responsible investing. Our President and CIO, Daren Smith, was appointed to the board of the Canadian Coalition for Good Governance in 2019, and this year he became Vice-Chair of the organization’s Environmental & Social Committee. In 2020, we joined the International Corporate Governance Network, a leading authority on global standards of corporate governance and investor stewardship. We also continued to participate in engagement activities as part of Climate Action 100+, as well as through specialized engagement service providers.
Optional Fields
Additional documentation to support the submission:
Data source(s) and notes about the submission:
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