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OPTrust releases climate-change action plan

OPTrust, which manages the assets of the C$20.3 billion Ontario Public Service Employees Union Pension Plan, Toronto, on Thursday announced an eight-point action plan to manage climate-change risk.

Its Climate Change Action Plan focuses on:

"We are looking at our investments from both a top-down and bottom-up perspective to evaluate our exposure to the risks and opportunities related to the transition to a low-carbon economy. We recognize that we must remain agile to adapt our approach as the transition plays out," said Hugh O'Reilly, OPTrust president and CEO, said in the action plan report. "Whether we take action or not, climate change is already having profound impacts, and markets are responding accordingly. It is in our members' best interests to take action and consider the financial implications."

OPTrust already files reports in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures in areas of governance, risk management, strategy, and metrics and targets. The action plan will be added to those commitments, according to the report.

The action plan report is available on OPTrust's website.