/CNW/ - Today, the Mining Association of Canada (MAC) is releasing a new Towards Sustainable Mining® (TSM) Climate Change Protocol designed to minimize the.
British Columbia Investment Management also aims to cut carbon exposure of public equities by 30%.
The C$171.3 billion ($135.9 billion) British Columbia Investment Management Corp. (BCI) said it will invest an additional C$5 billion in sustainability bonds by 2025, up from C$887 million at the end of last year. The pension fund also said it will reduce the carbon exposure in its global public equities portfolio by 30% by 2025, using 2019 as a baseline.
The moves are part of BCI’s commitment to five-year climate-related targets for its public markets program.
“These targets will help ensure our clients benefit from the shift to a low-carbon economy,” Gordon Fyfe, BCI’s chief executive officer and CIO, said in a statement. “They set concrete near-term goals that will help us track our progress as we continue to champion long-term and sustainable growth.”
British Columbia Investment Management Corporation sets climate-related targets for public markets
VICTORIA, BC, Feb. 19, 2021 /PRNewswire/ Today, British Columbia Investment Management Corporation (BCI) announces a commitment to five-year climate-related targets for its public markets program. The near-term targets represent a significant step by the leading provider of investment management services to British Columbia s public sector to further benefit from the opportunities and address the risks associated with climate change.
BCI will target a cumulative $5 billion investment in sustainability bonds by 2025 (based on initial participation) and reduce the carbon exposure in its global public equities portfolio by 30 per cent by 2025 (using 2019 as a baseline).