The Statement by the Quebec Financial Centre for a Sustainable Finance is a charter of commitments by stakeholders in the Quebec financial sector in favor of finance that is based on responsible principles. All players in the Quebec financial sector are invited to unite their voices to the movement by becoming signatories of the declaration and by proposing ambitious measures that help position Quebec as a pole of excellence and innovation in sustainable finance in North America.
Statement by the Quebec Financial
Centre for a Sustainable Finance
Quebec's financial sector actors committed to promoting finance based on the principles of responsible investment, underscoring Quebec's role as a leader in the Americas on sustainable finance.
Signed and supported by over 20 institutions representing over CAD $900B in assets under management.
The future of finance must be sustainable and promote the integration of environmental, social and governance (ESG) considerations in investment and capital allocation decision-making. We, the Québec financial sector, affirm that the values of the Québec financial centre promote and uphold this vision. The ongoing leadership of Quebec institutions in the responsible investment field provides a unique opportunity for Quebec to showcase its expertise on the international stage, and to make our financial market a hub of excellence and innovation in the sustainable finance in the Americas.
To support the implementation of Canada's commitment to the Paris Agreement, and add to the momentum from the 2017 Investor Statement on Climate Change Financial Risks, we must take advantage of the local resources, expertise and infrastructure at our disposal and thus strengthen Quebec's positioning as a leader in the Americas within this transition.
Our industry must play a leading role to support a green, fair and responsible low-carbon transition of Quebec and Canada's economy. We recognize the importance of aligning capital allocation not only with the transformation efforts of our industries, but also with the vision and values of our stakeholders.
In order to seize the opportunities that will arise from this significant evolution, we are committed to implementing concrete measures, specific to each of the industry's players, that will support the development of local expertise in responsible investment that is unique in the Americas. By building a network of experts specialized in sustainable asset management; by collaborating with leading educational institutions, particularly university programs in finance; and by acting in a concerted manner, the Québec financial centre will be better equipped to attract ESG fund management, and to grow a local responsible investment ecosystem.
We are committed to undertaking or pursuing one or more actions in the following themes:
• Developing a local expertise in sustainable finance and investment;
• Promote the establishment or growth of local teams and business units in sustainable finance in Quebec;
• Support the local development of sustainable finance products and services;
• Promote the growth of funds managed by locally established managers with leading-edge expertise in responsible investment;
• Promote greater disclosure and transparency in sustainable finance;
• Strengthen the integration of ESG factors into signatories' operations, internal processes and practices, and encourage this integration with our partners.
The above items have been developed for the signatories of this statement and can be used as a reference for any financial institution that intends to introduce the concept of sustainability into its investment strategy and process. This structure allows the signatories to identify the specific actions they will take to achieve their commitments.
We understand that sustainable asset management is complex and multidimensional. Finance Montréal, as the cluster of our financial industry, is therefore committed to reviewing, with the signatories, the items subscribed to in this declaration as the context of sustainable finance evolves. Finance Montréal will report on an annual basis on the commitments made by the signatories, based on an attestation from the signatory members that will allow for follow-up with them and will be used to adjust the orientation of this statement.
We encourage Quebec financial actors to join us by becoming a signatory to this statement. Together, we will help positioning Quebec as a leader in the Americas in responsible investment and sustainable finance.
Declaration signatories
Declaration Supporters
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