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AUM in Action

Canada’s UPP Launches Climate Stewardship Plan

The University Pension Plan Ontario (UPP) has published a roadmap for its climate engagement, proxy voting and advocacy. The ‘Climate Stewardship Plan’ outlines how UPP engages with portfolio companies and market actors to encourage progress in the climate transition and increased transparency on related risks and impacts. It also includes a time-bound action plan to strengthen the asset owner’s proxy voting activities. Brian Minns, Senior Managing Director of Responsible Investing at UPP, said: “It’s imperative that we use our influence and partnerships to catalyse positive change in both our investment portfolio and in the broader economy. Our Climate Stewardship Plan, which establishes our vision of success and specific goals for our stewardship activity, is an important step in supporting the creation of long-term value through improved investment outcomes for our members.” UPP published its Climate Action Plan last year which established the asset owner’s climate-related commitments and acknowledged that its ability to realise adequate investment returns for beneficiaries depends on a stable climate. In December, UPP intends to launch its Climate Transition Investment Framework to provide further details on how it will evaluate climate-related risks and opportunities for its current and prospective investments.

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