Globe Climate: At the water cooler of Canadian sustainable finance

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Also: The Globe’s ESG reporter shares what he saw at the Responsible Investment Association’s annual conference

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There is still much more that needs to be done, reducing deaths is only part of the battle to lower risk. But compared to 20 years ago, he sayshow the type of storms that once killed tens or hundreds of thousands of people now only claim handfuls of lives “We often take for granted the progress that we’ve made,” said U.N. Assistant Secretary-General Kamal Kishore.

The Responsible Investment Association’s annual conference is a great way to soak up what’s hot in Canadian sustainable finance and get a handle on the kinds of discussions that take place at the water coolers and in the hallways of banks, asset managers and pension funds. Ultimately, Engine No. 1 won out, attracting enough support from other major investors to replace three of the oil giant’s directors. Mr. O’Leary pointed out that the victory came after showing how climate was just one factor dragging Exxon Mobil’s performance, and that institutional investors saw that as indicative of an series of ways the company was lagging peers on operations and strategy. It all affected its stock price, he argued.

 

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