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Our Climate Action Plan

Our plan builds upon more than 20 years of climate action and affirms our commitment to supporting the global goal of achieving net-zero emissions by 2050. It outlines the actions we are taking to support this goal, aligned with creating and preserving financial value for our clients through the uncertainty of the climate transition.

Our Climate Action Plan

Engage & Advocate

 
As an active investor managing capital on behalf of our clients, we take our ownership rights and responsibilities seriously. We have a well-developed shareholder engagement program that enables us to actively engage with portfolio companies, advocate for policy change, and participate in global initiatives on climate action reporting and transparency.
Our Focus: By 2030, ensure at least 80 per cent of BCI’s carbon-intensive investments have set mature net-zero aligned commitments, or are the subject of direct or collaborative climate engagement by BCI.

Integrate

 
We believe the most effective way to manage the risk of climate change is to integrate climate considerations into every investment decision at the asset, pool, and total client portfolio levels.
Our Focus: Further integrate climate stress testing into investment decisions and monitor the total portfolio’s climate change stress test outcomes.

Seek Opportunities

 
The transition to a low carbon economy offers a variety of new investment opportunities. BCI actively invests in key areas we believe will benefit from the energy transition, with the goal of supporting long-term investment outcomes for our clients.
Our Focus: Pursue meaningful investments in climate solutions through specific actions in all asset classes.

Manage Risks

 
We consider physical and transition climate change risks across asset classes and align with best practices to understand, quantify, and report on these risks.
Our Focus: Continue to track and report the total portfolio carbon footprint with the expectation that it will decrease over time.
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2022 ESG Annual Report

Providing key updates and insight into how we capture opportunities and manage risks associated with ESG factors in the best financial interests of our clients.

Climate Action in Our Investments

OFFSETTING EMISSIONS AT BMS

At the time of our investment in BMS Group, an independent specialty insurance and reinsurance broker, our ESG assessment highlighted climate change as a potential source of value creation. Alongside other investors and board members, BCI supported BMS in better defining its ESG strategy, leading the company to calculate and take action to reduce its carbon footprint. BMS has begun offsetting emissions through projects like ecosystem conservation and renewable energy with a focus on reducing operational emissions.

FINDING NEW OPPORTUNITIES AT CST

Caddo Sustainable Timberlands, LP (CST), the largest private timberland owner in Texas, U.S., is committed to applying sustainable forest management practices. CST announced that it entered into an agreement to begin evaluating the potential development of a carbon capture and storage project on approximately 27,000 acres of its Texas timberlands. BCI and our co-investors worked closely with CST to evaluate this opportunity which could deliver significant climate and environmental benefit.

INVESTING DIRECTLY IN RENEWABLE Energy

BCI acquired Reden Solar with investment partners, marking the first direct investment in solar energy in our infrastructure & renewable resources program. Reden Solar develops, finances, builds, and operates solar power plants across Europe and Latin America with roughly a one gigawatt operating portfolio and a 15 gigawatt development pipeline.

ENGAGEMENT WITH CLIMATE ACTION 100+

Climate Action 100+ is the largest investor-led engagement initiative on climate change. It engages with 167 companies representing more than 80 per cent of global industrial GHG emissions. BCI leads or co-leads engagements with four North American companies in the oil and gas and mining industries, and supports engagements with six other target companies.

Collaboration on Climate Action


BCI is a signatory of CDP’s climate change, water, and forests programs, and became a signatory to the Science-Based Targets Campaign in 2022. CDP runs a global environmental disclosure system that over 18,000 companies report through, which BCI uses to inform ESG reviews and engagement activities.


BCI joined Asia Research & Engagement (ARE) which brings together investors to collaborate with senior business decision makers, and became a member of its Asia Transition Platform. The platform plans to engage with at least 50 Asian companies in three years on climate change, including financial institutions and power companies. 

Canadian Investor Statement on Climate Change
BCI and 35 other institutional investors managing $5.5 trillion called on companies to act on material climate risks. The signatories also commit to disclosing their financed emissions and setting the expectation that investment companies will establish emissions targets and report on progress.

Sustainable Finance Action Council
Jennifer Coulson, senior managing director & global head, ESG serves as a member of the Government of Canada’s Sustainable Finance Action Council. BCI advises on the foundational market infrastructure needed for a stable and reliable sustainable finance market.