June 28, 2019
TORONTO – Ontario Teachers’ Pension Plan (Ontario Teachers’) today announced the launch of its inaugural Climate Change Report, written in accordance with the recommendations made by the Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD). The report reflects Ontario Teachers’ support for the TCFD recommendations and outlines our practices for assessing and managing climate-related risks and opportunities for the Plan.
The Climate Change Report is a continuation of the decade-long evolution of Ontario Teachers’ approach to climate change, which comprises investing in climate-related opportunities; integrating climate factors in our investment decisions; engaging with companies and partners to encourage climate-positive action; and using our influence with policymakers and regulators to promote stable long-term policies.
“Climate change is one of the biggest and most daunting challenges facing the world.” said Barbara Zvan, Chief Risk and Strategy Officer at Ontario Teachers’. “There are risks to traditional economic and business models associated with the transition to a low-carbon economy, the chronic and acute risks of a warming climate, and the interaction between these forces. Actively managing the related opportunities and risks is central to the Plan’s investment strategy and will be a critical factor to our future success.”
In line with Ontario Teachers’ strong legacy of corporate governance, the report also emphasizes how our board and senior management oversee climate-related risks and opportunities, and our approach to analyzing the potential impacts of climate change at the individual investments and total portfolio levels.