Alberta Investment Management Corporation (AIMCo)

In terms of senior leadership accountability, the responsibility for sustainability issues within Alberta Investment Management Corporation lies with the Board. In terms of female representation in leadership positions, the financial institution has a gender-balanced board of directors where 5 out of 11 members are women. Furthermore, it has a responsible investment policy where it describes its approach on sustainability themes and impact topics with investees which includes a clear framework with success criteria and escalation points. Additionally, the financial institution publishes a responsible investment report describing how the engagement policy is applied in practice and it publishes case studies describing where it has engaged successfully with investees on sustainability themes and impact topics.

Alberta Investment Management Corporation discloses absolute financed emissions and discloses the underlying data quality and coverage of its financed emissions. Furthermore, as a member of Climate Action 100+, the financial institution discloses that it collectively engages with its clients on the topic of climate change.

Alberta Investment Management Corporation has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. The financial institution has a policy prohibiting bribery and corruption. Furthermore, it has a grievance mechanism accessible to all workers and stakeholders to raise human rights and bribery and corruption concerns.

In terms of its approach to senior leadership accountability, there is no evidence that the financial institution links the remuneration of its executive team and management team to sustainability performance criteria. Alberta Investment Management Corporation could do more on gender equality for example to reach at least 40% female representation in senior leadership positions. . There is no evidence that the pension fund publishes case studies describing where it has engaged unsuccessfully with investees on sustainability themes and impact topics.

Alberta Investment Management Corporation has an opportunity to disclose a target to reach net-zero financed emissions by 2050. Furthermore, there is no evidence that the pension fund discloses key sectors or companies identified as priorities to engage with on climate issues, specifically alignment with the Paris Agreement. Additionally, there is no evidence that the financial institution discloses time-bound targets explicitly for its climate solutions and that it is committed to minimising the negative impacts it has on nature and biodiversity. No evidence was found regarding the pension fund’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.

While Alberta Investment Management Corporation provides a publicly available policy statement expecting its investees to protect human rights, there is no evidence the financial institution has a publicly available policy statement committing it to respect human rights. The financial institution also has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities and to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the investments directed towards low-income developing countries.