The Caisse de dépôt et placement du Québec stood out in a new international ranking on sustainable finance.
Posted at 4:41 p.m.
Quebecers’ woolen stockings rank first among pension funds in the new World Benchmarking Alliance (WBA), launched as part of COP27 in Sharm el-Sheikh, Egypt. For all industries, the Caisse comes in at 26e rank.
The WBA explains that the Caisse stands out in particular by the fact that it would be one of the rare financial institutions to provide clear information on the amount of financing for high-emission sectors in all of its assets under management.
All industries combined, the Bank of Montreal ranks first. BMO is one of ‘few’ institutions to set targets for the environment and social impact of its financing activities and to track progress against its goals, according to the WBA .
The WBA Financial System Index is based on the progress made by financial institutions in integrating sustainable finance. Institutions were assessed against three areas: governance and strategy, respect for planetary boundaries, and respect for societal conventions.