A carbon footprint 22 % lower than the benchmark portfolios
Montréal, December 7, 2020 – Proud to have been among the first signatories of the Montréal Carbon Pledge, Bâtirente is today announcing the carbon footprint of its equity portfolios for 2019.
A detailed analysis of our portfolios reveals that, as of December 31, 2019:
- The carbon footprint of the equities held by Bâtirente is, overall, 22% lower than that of its benchmark portfolios;
- Driven by a sharp decline in our carbon footprint in global equities and listed real estate, our carbon footprint is down 12% from the previous year;
- This decrease in our carbon footprint is also the result of improved equity selections in listed real estate, the Canadian materials sector and the utilities sector in global equity.
“For six years now, we have been measuring the carbon footprint of our portfolios with the firm conviction that the financial interest of our members converges with the common good. We continue to move forward, driven by our ambitious Climate Commitment that was unveiled this year,” affirms Bâtirente’s Chief Executive Officer Daniel Simard.
Our commitment to the climate is important to Bâtirente and its members. This commitment demonstrates our desire to ensure the resilience and performance of our portfolios in the face of climate change, of which the causes and consequences are numerous, requiring differentiated strategies. Making a positive contribution to the transition to an economy aligned with the objectives of the Paris Agreement requires a multidimensional approach. At the same time, we need to reduce greenhouse gas (GHG) emissions, facilitate the financing of solutions and resilience, and convince companies to commit to increasing their energy efficiency, migrating to renewable energy, and even transforming their business models.
This is why, by 2025, we will:
- Gradually reduce our exposure to climate risk by 50% by reducing our investments in companies that emit GHGs, thereby decreasing the carbon footprint of our portfolios;
- Invest in transformation through the doubling of our capital allocation in impact investments and environmental solutions that promote a just energy transition, clean energy and innovation, and job creation in these forward-looking and emerging sectors;
- Target our own commitment as shareholders to improving corporate climate performance and inspiring businesses to take action today.
“It is essential for Bâtirente to fulfil its fiduciary responsibility by taking the measures to optimally allocate the capital entrusted to us,” said Pierre Patry, Treasurer of the Confédération des syndicats nationaux (CSN) and Chairman of the Board of Bâtirente. “Our commitment aims to mitigate the direct cause of global warming through the reduction greenhouse gas emissions as well as to mitigate the consequences of global warming by building resilience.”
Bâtirente is a group retirement system created in 1987 at the initiative of the CSN. It allows 23,000 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 Quebec, 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.
For further information
Katya Vanbeselaere, Communications and Marketing Manager
514 525-5740 ext. 2425