September 7, 2018
Victoria, British Columbia – British Columbia investment Management Corporation (BCI) has publicly released our climate action plan (CAP) and approach to the TCFD recommendations.
Climate change is a long-term, global issue; and BCI must look beyond today in order to continue to meet our clients’ long-term financial obligations. Building on over a decade of climate-related work, BCI focused efforts to formalize our CAP, which outlines four activities – manage risk, integrate, seek opportunities, and engage & advocate.
BCI’s motivation is driven by our clients’ interest in having a comprehensive understanding of their exposure to climate change risks and opportunities; our aim to increase internal awareness of the materiality of risks and opportunities; and our goal to align with best practices among global investors.
The document also discloses our alignment with the recommendations put forth by the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD). We are committed to align our reporting with the TCFD recommendations for asset managers and will apply their principles to our own disclosure going forward as we believe greater disclosure leads to improved transparency and helps investors make more informed investment decisions.