Ontario Municipal Employees
Founded in 1963, Ontario Municipal Employees (OMERS) is a jointly sponsored, defined benefit pension plan, with its participating employers ranging from large cities to local agencies and its active, deferred and retired members. The members of OMERS include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children's aid societies across OntarioDuring the assessed period total assets corresponding to USD 113 billion were reported.
Leading practices
The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution links performance criteria for remuneration at the senior executive level to specific sustainability targets. The financial institution assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution. The financial institution transparently identifies the key sectors, clients and investees to engage with on climate issues.
Risks and opportunities
The financial institution has opportunities to disclose its methods for determining a living wage in its operational regions and to include anti-bribery and anti-corruption clauses in its contracts with business relationships. It can also publish a policy statement indicating that it does not make political contributions. While it identifies material sustainability impacts, further detail on the process and criteria for prioritisation across its value chain is needed. Although it has measurable targets for “green” solutions, specifying the share dedicated to climate solutions is recommended. Monitoring of other scope 3 categories should be disclosed, along with the methodology for footprint calculation.
A breakdown of clients and beneficiaries by income group is also recommended. The risk assessment process should include risks related to ILO fundamental rights for those affected by its offerings, with a process for mitigating identified risks. Additionally, the institution should identify social risks linked to its products and services in the context of the net zero transition.
Finally, it is recommended to provide an example of conclusions and actions taken regarding at least one salient human rights issue from the last three years.
Disclaimer
This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.
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More about the company
- Headquarters
- Canada
- Ownership structure
- Government
- Results 2024
- Total assets: USD 113 billion;
- Number of employees
- -
- Website
- https://www.omers.com
