Ontario Teachers’ Pension Plan Board

The financial institution maintains a gender balance of 40-60% at the senior executive level. It discloses the amount or share, in monetary terms, of its provision of products, services and capital linked to high-emitting sectors and fossil fuel sectors. It transparently identifies the key sectors, clients, and investees to engage with on climate issues and provides examples of how its offerings support climate adaptation and societal resilience. Furthermore, the institution monitors its Scope 1-2 emissions as well as emissions resulting from its associated financing activities (Scope 3 category 15).

The financial institution has a publicly available policy statement prohibiting bribery and corruption but could use stronger language to formalise its statement and include such clauses in its contracts with business relationships. It could also disclose that it links performance criteria for remuneration at the senior executive level to specific sustainability targets. Additionally, while the institution discloses a list of sustainability-related trade associations that it is a member of, it could provide a comprehensive list of all its memberships. Although it monitors scope 3 emissions beyond financed emissions, it has the opportunity to cover additional categories and provide a rationale for those excluded.

It is recommended that the institution disclose that it has established a transition plan covering its own operations, supply chain, and portfolio and publish the breakdown of clients or beneficiaries by income group. It could also clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Furthermore, the institution’s risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. It could also strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

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.