Montréal, March 17, 2022 – Bâtirente and FÉRIQUE Fund Management are highlighting the commitment of Imperial Oil to boost its efforts regarding climate protection. The petroleum company has committed to working on strengthening its absolute GHG (greenhouse gas) emissions reduction targets. In its published management proxy circular, Imperial Oil committed to working toward:
- setting a midterm goal of reducing its absolute GHG emissions, in line with its longer-term goal of achieving net zero emissions for its oilsands operations,
- extending its net zero emissions goal to all its activities, including downstream of the extraction process.
“The climate emergency is real. It’s important to have petroleum companies commit to scenarios that create real gains and benefits for the climate in the short term,” emphasized Bâtirente CEO, Éric Filion.
The progress in this petroleum company’s commitments was achieved as part of a shareholder dialogue led by Æquo, Shareholder Engagement Services on behalf of Bâtirente and FÉRIQUE Fund Management.
“This agreement with Imperial represents a significant step toward achieving the goals of our partner investors,” explained Daniel Simard, interim CEO of Æquo. “It should also be noted that we will remain vigilant and insist that Imperial act on its commitments already as of this year, and that its interim targets take effect by 2030 or even before, if possible.”
“This agreement is important, as it shows that, through shareholder engagement, it’s possible to develop successful collaborations between shareholders and the companies they’ve invested in,” concluded Louis Lizotte, Chief, Investment Solutions at FÉRIQUE.
Bâtirente is a group retirement system created in 1987 at the initiative of the CSN. It allows 25,000 workers, grouped in 300 labour unions, to benefit from pension plans tailored to their needs by pooling their savings.
A pioneer in responsible investing in Québec, Bâtirente believes that actively managing its investee companies’ environmental, social and governance (ESG) risks helps ensure long-term economic and social development, as well as sound capitalization of the pension plan, which are both required for sustainable financial performance.
About Gestion FÉRIQUE
FÉRIQUE Fund Management is a Canadian mutual fund manager founded in 1999. The firm offers 18 funds, including five portfolios diversified across the asset classes required for sound diversification. Management of the Funds is entrusted to renowned external firms mandated by FÉRIQUE Fund Management according to their area of specialization. The FÉRIQUE Funds had more than $3,8 billion in assets under management and more than 23,500 clients as at December 31, 2021.
FÉRIQUE Investment Services, the principal distributor of the FÉRIQUE Funds, is a mutual fund dealer and financial planning firm created in 2006 to provide investor services.
FÉRIQUE Fund Management and FÉRIQUE Investment Services, which are both headquartered in Montreal, are non-profit organizations – a business model rarely found in the investment and wealth management field – whose objective is to offer investment solutions aligned with the needs of their exclusive clientele of engineers, engineering graduates and their family members. To consult the legal notice.
About Æquo, Shareholder Engagement Services
Æquo, a Québec firm established in 2015, guides shareholders and asset managers in their responsible investment process. Thanks to its unique expertise, Æquo leads shareholder engagement with listed companies on behalf of its clients to improve their ESG practices.
This process is based on a single principle: that companies who align their practices with the principles of good governance, sustainable development and respect for human rights generate better long-term returns.
For more information
Partner and Head of Corporate Engagement
Æquo, Shareholder Engagement Services
François Fréchette, CFA
Senior Director, Investments
FÉRIQUE Fund Management
514 840-9206 ext. 610
Communications and Marketing Manager
514 525-5740 ext. 2425