At OPB, we are committed to advancing Environmental, Social and Governance (ESG) both within our organization and our investments because we believe it can positively contribute to our success and the long-term financial health of the Plan. The choices we make today can help contribute to a more sustainable, equitable future.
We are pleased to introduce our inaugural ESG Report.
We believe that effectively addressing ESG within our operations and our investment portfolio is critically important to ensuring our long-term success as an organization and our ability to protect the pension promise for generations to come.
This report is part of our commitment to enhancing our communications and transparency about our progress on ESG.
OPB is committed to providing clear and accessible information about why ESG matters and what we are doing to address ESG issues both within our organization and within our investments. In addition to showcasing key highlights, we have also built in some educational content, including several videos to help make certain ESG concepts easier to understand and to help members understand how addressing ESG better positions us for success in the future.
ESG stands for environmental, social and governance. As a pension plan administrator, we are focused on how we are progressing on ESG both within our organization and within our investment portfolio.
Below are some examples of the types of issues that fall under each ESG pillar.
OPB is committed to continuing to advance our progress on ESG, including diversity, equity and inclusion (DEI), because it better positions us to protect the long-term financial health of the Plan, deliver excellent service to our clients and provide our employees with a collaborative, caring and inclusive environment.
We believe organizations that incorporate a commitment to ESG into their day-to-day activities and long-term strategy are more efficient, more effective and better positioned to address the challenges and opportunities of the future. This belief guides us in our operations and our approach to investment strategy and oversight of IMCO.
OPB is responsible for overseeing the investment of the Public Service Pension Plan’s (PSPP) assets. We have a financial responsibility to the Plan beneficiaries (i.e., fiduciary duty) that requires us to consider all risks and opportunities that could impact the long-term financial health of the Plan. This includes ESG opportunities and risks within our investments. We believe that investing in companies that effectively address ESG issues is more likely to improve returns over the long term, which is good for Plan members.
Our investment manager, IMCO, shares this belief. They are responsible for investing OPB’s assets according to our Statement of Investment Policies and Procedures, which specifies that ESG factors should be considered as part of IMCO’s evaluation of an investment.