The overriding objectives of the Fund are to provide security for the promised benefits, invest within an acceptable level of risk, and allow for stable and reasonable contribution rates. In general, OPB believes that supporting environmental, social, and governance (ESG) initiatives will improve corporate disclosure practices and will enable long term investors, such as OPB, to better evaluate investment return-risk tradeoffs and ultimately support OPB's efforts to achieve the Plan's objectives.
OPB does not engage in the practice of screening in its investment decision making process. OPB adopts a pragmatic approach to integrating ESG considerations into its investment policies and procedures for the Fund.
OPB has fiduciary responsibilities to act in the best interests of Plan beneficiaries and for the long term sustainability of the Fund and therefore it is important that factors such as ESG are incorporated in a manner that supports, and does not take precedence over, OPB’s overriding fiduciary responsibilities.
OPB is a signatory to the United Nations-backed Principles for Responsible Investment (PRI). This international network of investors is collaborating to put Responsible Investment into practice and help build a more sustainable global financial system.