Engaging For Success
Ten years ago we began engaging Canadian banks on integrating environmental and social risk considerations to lending policies — now an established practice. Against the background of controversy over pipeline projects, in 2017 we engaged with banks across our global holdings to support enhanced consideration of indigenous rights in lending standards. It was announced that the Equator Principles project finance sustainability standards would be reviewed, while the OECD began work on environmental and social due diligence guidance for lenders.
Strategic Sector Goals
With respect to the financial sector, we are engaging with companies to try to achieve specific sector goals, including:
Providing services that meet social needs.
Avoiding risk-taking that can damage the economy as a whole.
Taking environmental and social impacts into account in lending and investment.
In addition to these sector specific goals, the NEI ESG team's broader engagement goals and themes are applied to all companies in all sectors. You can find out more about the ESG team process and their guiding principles in the NEI ESG Process section.
We are pursuing dialogues with a number of companies in the financial sector, including:
Bank of Montreal (BMO)
Canadian Imperial Bank of Commerce (CIBC)
Royal Bank of Canada (RBC)