Both the national church and the Pension Plan are signatories to the UN PRI–sponsored Paris Pledge for Action statement, which will call for strong economic action to reduce emissions. The statement will be released on December 11 at the close of the COP21 meetings.
The United Church of Canada became a signatory to the UN Principles of Responsible Investment (UN PRI) program in 2014, and The United Church Pension Plan application for membership is underway.
In addition, the national United Church is the only Canadian denominational signatory to the Montreal Carbon Pledge committing us to ongoing measurement of the carbon intensity of our investment portfolios. We are pleased to report that our first measure of our equity portfolios showed that the carbon intensity of our chosen equity investments is 60.45% compared to that of the relevant indices. We are committed to ongoing monitoring and improvement on this already encouraging result.
These items are just the most recent actions in our investor engagement work:
- 2012–2015 and ongoing: Working with SHARE (Shareholder Association for Research and Education), a coalition of Canadian investors, to raise issues of climate change and related environmental concerns (e.g., hydraulic fracturing). For example, in the last year, we have engaged with nine Canadian companies on the issues. See the Shareholder Engagement Plan Snapshot 2015.
- October 2015: Signed Investor Expectations on Corporate Climate Lobbying.
- June 2015: Signed a global institutional investors letter to Finance Ministers of G7 countries.
- May 2015: Co-sponsored UK shareholder proposals to Royal Dutch Shell and BP calling for increased disclosure of the companies’ corporate strategy on climate change.
- April 2015: Was a signatory to a letter to Canadian governments from Canadian religious institutional investors, convened by SHARE, calling for a price on carbon.
- September 2014: Signed 2014 Global Statement on Climate Change calling for carbon pricing, along with 314 global institutional investors.
- 2007: Joined the Carbon Disclosure Project, through which investors push companies to measure and report on carbon emissions, and develop plans to lower them.