GUELPH, ON, Nov. 30, 2015 /CNW/ - Today, The Co-operators Group Limited, the first Canadian insurance company to sign on to the Montréal Carbon Pledge, today lived up to the commitment it made as a signatory to publicly disclose the carbon footprints of its equity portfolios. By signing the Pledge, organizations commit to annually measure and disclose their investments' carbon footprints as part of an effort to better understand the investment implications of climate change.
The Montréal Carbon Pledge was launched in September 2014 and is supported by the United Nations Environment Programme Finance Initiative and the Principles for Responsible Investment. More than 100 organizations from around the world have now signed on, and 2015 is the first year they are required to disclose the carbon footprints of their equity portfolios. The Co-operators is committed to disclosing the same information related to its fixed income and preferred share portfolios next year.
"Climate change will have a significant impact on financial markets and investment returns across many asset classes, creating risks and opportunities we must manage effectively in the years ahead," said Kathy Bardswick, president and CEO of The Co-operators. "We are committed to sustainable investing and recognize the importance of measuring and better understanding carbon footprints and other climate-related risks."
To learn more about the carbon footprint of investments held by The Co-operators, please visit cooperators.ca. The Co-operators group of companies has more than C$8 billion in invested assets, which are administered by its subsidiary, Addenda Capital, also a signatory to the Pledge. Measuring carbon footprints and understanding other climate-related risks is consistent with Addenda Capital's fundamental approach to active investing.
About The Co-operators:
The Co-operators Group Limited is Canadian-owned co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the 50 Best Employers in Canada by Aon Hewitt; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information visit www.cooperators.ca.
SOURCE The Co-operators
For further information: Leonard Sharman, The Co-operators, 519-767-3937