The Co-operators sets ambitious impact investing target
Apr 7, 2016
GUELPH, ON, April 7, 2016 /CNW/ - Today, The Co-operators announced it has established a target to have impact investments represent 6 to 10 per cent of its invested assets by the end of 2018.
Impact investing is an investment approach that seeks to create both financial returns and positive social or environmental impacts. It is intentional, and the social or environmental impacts are actively measured and reported to stakeholders. The Co-operators has identified climate change; health and wellness; and food, agriculture and natural resources as its three focus areas for impact investing.
"As an organization committed to being a catalyst for a sustainable society, it is important that our assets are invested in a way that produces not just a financial return for the organization, but also a helps create a healthier, more sustainable society for all," said Bruce West, executive vice-president, finance and chief financial officer of The Co-operators. "Formally adopting impact investing is an exciting new step we are taking as a sustainable investor."
Impact investments made by The Co-operators are expected to achieve competitive risk adjusted investment returns and avoid undue risk of loss and will be global in nature with a preference for Canada. At least one positive impact will be measured and reported for each impact investment, and authoritative guidance will be sought for qualifying environmental or social impacts. Further information about The Co-operators approach to impact investing will be included in its 2015 Sustainability Report to be released in May, as well as on the organization's website, cooperators.ca, at that time.
The Co-operators has been investigating impact investment opportunities since 2013 and has made four investments representing approximately 0.5% of its assets with the intention of creating positive social or environmental impacts. The assets of The Co-operators are managed by its subsidiary, Addenda Capital. Addenda Capital has been instrumental in helping The Co-operators develop and establish this impact investing strategy and has responsibility for executing it on behalf of The Co-operators.
About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information visit www.cooperators.ca.
SOURCE The Co-operators
For further information: Leonard Sharman, The Co-operators, 519-767-3937