Michel Charron has had a front-row seat for the revolution in the Canadian investment industry’s approach to environmental, social and governance issues.
Following the foundation of the United Nation’s principles for responsible investment in 2008, his firm, PBI Actuarial Consultants Inc., immediately signed up. But the concept required explanation for some pension plan sponsors, he says. “The response was initially lukewarm. Some would say they were interested in ESG, but it wasn’t part of their mandate. And the other thing we heard was they weren’t willing to leave money on the table for that.”