The CPP Investment Board is encouraging Canada’s largest companies to disclose more information on the business risks and opportunities they face as a result of climate change by responding to the Carbon Disclosure Project’s (CDP) questionnaire.

The CPP Investment Board is one of 385 institutional investors from around the world representing a total of US$57 trillion in assets under management who are supporting the project.

The CDP questionnaire was mailed on February 1, to over 3,000 companies worldwide, including the 200 largest public companies in Canada. The questionnaire asks companies to measure and disclose their greenhouse gas emissions and report on their strategy for dealing with risks and opportunities associated with climate change.

The CPP IB is a signatory to the CDP and sponsor of the CDP Canada Report which recognizes leading practices by Canadian companies regarding transparency on climate change related risks.

“Improved disclosure on climate change related risks and opportunities through mechanisms such as the Management’s Discussion and Analysis and the CDP is necessary as it enables long-term investors like us to incorporate the potential investment impact into our investment decisions,” says David McCann, vp & head of relationship investments, CPP IB.

“We also believe that responsible corporate behaviour with respect to environmental, social and governance (ESG) factors can generally have a positive influence on long-term shareholder value,” McCann say.

The CPP IB’s participation in the CDP initiative is aligned with its Policy on Responsible Investing, which consists of a three part program to improve the disclosure of, and performance on, ESG factors in the companies in which it invests.

Full details of the CPP Investment Board’s approach to responsible investing are outlined in its Policy on Responsible Investing available at www.cppib.ca.