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University of Toronto Asset Management Corporation (re University of Toronto Endowment)

PRI reporting framework 2018

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

UTAM became a signatory to the PRI in December 2016 and has since defined the activities that we will undertake in support of the principles. The principles and the activities have been reflected in our Responsible Investing Policy which was developed in 2017 and is publically available on our website at https://utam.utoronto.ca/responsible-investing/.

In 2017 we have been supportive of PRI initiatives including signing the ESG in Credit Ratings letter and hosted a workshop on this issue.

Our Chief Risk Officer is a member of PRI's Asset Owner Advisory Committee. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We undertook a lead role in contacting a number of companies requesting their participation in the disclosure requests issued by CDP. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          Canadian Coalition for Good Governance (CCGG)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

UTAM supports the work of CCGG and participates in its activities as considered appropriate. 

          Responsible Investment Association (Canada) (RIA)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

UTAM's Chief Operating Officer has participated on a panel with other RIA members discussing ESG integration. The Chief Operating Officer is a member of the Toronto Working Group and facilitated the hosting of its meetings at UTAM's offices. 

          Pension Investment Association of Canada (PIAC)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our Chief Operating Officer is a member of PIAC's Investor Stewardship Committee, which aims to develop, monitor and promote robust standards and best practices for investor stewardship of pensions in Canada. Activities reviewed by the committee include proxy voting, corporate engagement, governance, integrating ESG factors into the investment process and advocacy around responsible investing with policymakers and standard-setters. 


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          UTAM hosted a workshop held by the PRI to discuss its inclusion of ESG factors in the work of credit rating agencies.  This was instructive for all participants.
        

Frequency of contribution

Description

          UTAM participated in the project described below by speaking with the author and by connecting the author with other institutional investors.  

This project is interested in exploring how institutional investors understand and seek to manage “climate risk.” It is particularly interested in the risks associated with investment in fossil-fuel producers in the light of climate change and its physical, political and economic impacts. Questions being posed by the project include, but are not limited to, the following: 

What strategies, metrics and models do investors employ to evaluate, manage and mitigate climate risk?  
How do questions of fiduciary responsibility interact with climate risk issues?   
Do investors have the power to discipline fossil-fuel producers to invest in cleaner energy?  
And where do “stranded assets” sit on investors’ list of climate concerns? 

The project is being conducted by Brett Christophers, Professor of Geography at Uppsala University in Sweden (http://katalog.uu.se/profile/?id=N8-1036).  The intended outcome of the project will be one or more publications in scholarly journals.
        

Frequency of contribution

Description

          We wrote to the Canadian Federal Minister of Innovation, Science and Economic Development in support of proposed amendments to the Canada Business Corporations Act addressing enhanced corporate governance practices including diversity disclosure.
        

Frequency of contribution

Description

          UTAM's Chief Operating Officer has participated in a panel with other institutional investors moderated by the Responsible Investing Association of Canada to explain how responsible investment may be implemented in practice.
        

Frequency of contribution

Description

          UTAM engages in dialogue with third-party investment managers, encouraging them to consider adoption of the PRI.
        

Frequency of contribution

Description

          UTAM's Chief Risk Officer is a member of the PRI's working group considering how ESG factors can be incorporated into passive investment mandates.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]


SG 11. Dialogue with public policy makers or standard setters (Private)


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