TORONTO — Canada Pension Plan Investment Board issued a new policy on responsible investing that aims to shift more focus on corporate governance and environmental issues. The C$87 billion (US$74 billion) fund will join investment coalitions such as the Canadian Coalition for Good Governance and participate in institutional investor summits on climate control that focus on corporate governance, human rights and the environment; monitor proxy votes by money managers and affiliated shareholders; draft shareholder proposals to companies in which it invests; and directly engage companies on their environmental policies and corporate governance. The fund will not screen for socially responsible investments.
Additionally, the fund is examining new initiatives, which include helping create an investor group sponsored by the United Nations that would develop principles of responsible investing and helping form an investor network on climate risk.