Responsible Investing
As a long-term investor, HOOPP believes that enterprises that effectively implement environmental, social and governance (ESG) standards are likely to be better managed and more financially successful than those which do not - making them better investments for HOOPP, over time.
HOOPP closely considers ESG factors across all of its investments and has a Responsible Investing Policy to guide its decision making.
In developing its responsible investing policy, HOOPP looked to international standards and conventions, including the UN Principles for Responsible Investment (UN PRI), the Organisation for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises and the Coalition for Environmentally Responsible Economies (Ceres) principles, a 10-point code of corporate environmental conduct.
HOOPP's Responsible Investing Policy incorporates the overall goal of the UN PRI to integrate ESG issues into investment decision-making and ownership practices, within the bounds of HOOPP's fiduciary responsibilities to Plan members.
HOOPP makes its views known to companies by voting its proxies and by directly engaging firms in discussions around ESG issues that could affect their long-term value. It also uses third-party research that brings ESG factors into the investment decision-making process.
To ensure that all relevant factors were incorporated, HOOPP had its policy reviewed by Carleton University's Dr. Tessa Hebb, a leading expert on pension fund investment. Dr. Hebb found HOOPP's responsible investing policies "to be comparable to those of Canadian RI industry leaders."
Making a difference
At HOOPP, responsible investing goes beyond its portfolio. HOOPP is an industry leader in supporting initiatives that promote sustainable practices as a founding member of the Canadian Coalition for Good Governance (CCGG) and a signatory to the UN Principles for Responsible Investment (UN PRI), Carbon Disclosure Project (CDP) and the Extractive Industries Transparency Initiative (EITI).
HOOPP has also achieved recognition for its commitment to environmental sustainability standards in its real estate portfolio this has been accomplished through striving to achieve Leadership in Energy and Environmental Design (LEED) certification on investments and developments, and by continually monitoring health and safety practices of all external property managers and contractors to ensure they are best-in-class.
In 2010, HOOPP opened the doors to Telus House, a state-of-the-art office building at 25 York St. in Toronto, the AeroCentre V office building in Mississauga and Willingdon Park Phase 8 and 9 in Vancouver. All three buildings will seek LEED-Gold certification and all new HOOPP developments will seek this same standard of environmental sustainability.
HOOPP's investment in these commercial developments reflects its commitment to greater environmental and social stewardship and to sustainable development.
