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BREADCRUMBS

 1. Home  / 
 2. How We Invest  / 
 3. Climate Action


CLIMATE ACTION


CLIMATE ACTION

As IMCO continues to deliver on its mandate to build a multi-client global asset
management service that will drive long-term benefits for public sector
organizations in Ontario, we are committed to integrating ESG considerations
into our investment decisions, ownership activities and selection of external
managers. This allows us to better manage risk, capitalize on emerging
sustainable investing opportunities and generate sustainable long-term returns
for our clients.

Download our Climate Action Plan



IMCO is proud to embrace the targets and pledges of the 2015 Paris Climate
Accord which outlines the goals and commitments required to reach net zero
greenhouse gas (GHG) emissions by 2050. We have committed to achieving a net
zero emissions portfolio by 2050 or earlier.

IMCO has established interim climate targets for 2030, consistent with
science-based net zero pathways aimed towards the 1.5°C temperature goal of the
Paris Agreement and net zero emissions by 2050.

IMCO will actively reduce its portfolio carbon emissions, while concurrently
contributing to building the net zero economy through:

 * An interim science-based target of 50% reduction in portfolio emissions
   intensity by 2030, as measured against IMCO's 2019 baseline;
 * Investments in climate solutions totaling 20% of the portfolio by 2030.




CLIMATE ACTION PLAN

IMCO's climate strategy focuses on four areas: capital deployment, asset
ownership, portfolio management, and climate guardrails. Our plan will
contribute towards delivering sustainable long-term risk-adjusted returns for
our clients, and achieve IMCO's long-term goal of net zero GHG emissions by
2050.
Expand All

CAPITAL DEPLOYMENT

We pursue climate positive and transition investment opportunities. We will also
emphasize lower-emission investments and support assets in preparing for the net
zero transition.

IMCO will increase its investment in climate solutions to 20% of IMCO's
portfolio by 2030. Climate solutions are defined in line with the categories
detailed in the Green Bond Principles, as set out by the International Capital
Markets Association.

PORTFOLIO MANAGEMENT

We focus on further integrating climate related risks and opportunities into our
investment decision making processes, and continuously monitor climate risk
across our portfolio.

IMCO will:
• Prioritize partnerships with external managers that have existing or intended
net zero commitments
• Increase investment in companies with net zero commitments

ASSET OWNERSHIP

We drive climate action in our portfolios by engaging with portfolio companies
and external managers on key issues related to climate. We also collaborate with
like-minded investors and policymakers to drive collective climate action.

IMCO will:
• Support its external managers and portfolio companies in establishing
Paris-aligned plans and delivering portfolio emissions reduction
• Engage with its external managers and portfolio companies to increase the
share of its portfolio reporting emissions data
• Exercise its right to vote at shareholder meetings, to encourage companies to
manage climate-related risks and opportunities
• Collaborate with like-minded investors and policymakers to drive collective
climate action

CLIMATE GUARDRAILS

We mitigate climate risk in our portfolio through climate guardrails, which will
limit our exposure to investments that are incompatible with a net zero future.

IMCO will:
• Phase out new investment commitments in development of new unabated fossil
fuel assets, in line with appropriate global, science-based scenarios
• Limit exposure to investments in thermal coal mining and arctic drilling



STEWARDSHIP

As a steward of client capital and a responsible organization, IMCO is committed
to playing its part in the transition to a net zero emissions economy. Whether
through direct engagement with portfolio companies and external managers, proxy
voting or collaborative engagement with our peers, we aim to use our influence
to promote strong climate action practices. IMCO's Stewardship Guideline
includes our approach to engaging on climate change.

IMCO's Proxy Voting Guideline includes our policy on how we vote and criteria
that need to be met to vote for a company's climate plan and/or resolution.

We expect companies to commit to a net zero GHG emissions target by 2050 or
sooner, set science-based emission-reduction targets, and disclose climate
information in line with TCFD.




IMCO’S CLIMATE ACTION COMMITMENTS

IMCO is a proud member or signatory of these organizations


PAII

View Website


CLIMATE ENGAGEMENT CANADA (CEC)

View Website


2021 GLOBAL INVESTOR STATEMENT TO GOVERNMENTS ON THE CLIMATE CHANGE CRISIS

View Website


CANADIAN INVESTOR STATEMENT ON CLIMATE CHANGE

View Website


CLIMATE ACTION 100+

View Website


PARTNERSHIP FOR CARBON ACCOUNTING FINANCIALS (PCAF)

View Website


CLIMATE ACTION 100+

View Website


30% CLUB

View Website


CANADIAN INVESTOR STATEMENT ON DIVERSITY & INCLUSION.

View Website


INTERNATIONAL CORPORATE GOVERNANCE NETWORK (ICGN)

View Website


CANADIAN COALITION FOR GOOD GOVERNANCE (CCGG)

View Website


CDP

View Website


PRINCIPLES FOR RESPONSIBLE INVESTMENT (PRI)

View Website


RESPONSIBLE INVESTMENT ASSOCIATION

View Website



PORTFOLIO EMISSIONS

We measure our portfolio carbon footprint in line with the PCAF standard. 2019
is our baseline year and was used to set our interim emissions reduction targets
in 2022 in line with our net-zero commitment.


Portfolio Emissions 2019 2020 2021 2022 2022 vs 2019 Total financed emissions
(tCO2e1) 3,223,480 2,324,864 2,351,913 2,070,359 -36% AUM in scope for financed
emissions ($ million) 46,942 49,694 55,150 50,541 +8% Financed emissions
intensity (tCO2e1 / $ million invested) 75 54 47 45 -40%

1 Metric tones (t) of carbon dioxide (CO2) equivalent (e)


RESPONSIBLE INVESTING


 * POLICIES


 * CLIMATE ACTION


 * PROXY VOTING


 * RISK MANAGEMENT


 * CASE STUDIES




Investment Management Corporation of Ontario

16 York Street, Suite 2400
Toronto, ON
M5J 0E6

416-408-4626
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ABOUT US

 * IMCO
   * Overview
   * Five-Year Strategic Plan (2023-2027)
   * Executive Team
   * Investment Team
   * Board of Directors
 * Clients
   * Our Commitment to Client Success
   * Our Approach
   * Who We Serve


HOW WE INVEST

 * Our Portfolio
   * Fixed Income & Government Bonds
   * Global Credit
   * Infrastructure
   * Investment Strategies
   * Private Equity
   * Public Equities
   * Public Market Alternatives
   * Real Estate
 * Responsible Investing
   * Overview
   * Policies
   * Our Approach
   * Climate Actions
   * Proxy Voting
   * Case Studies
 * Performance
   * Track Record
   * Risk Management
   * Annual Report
   * Publications


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