ESG Governance in Our Investments
OPB is the administrator of the PSPP, which includes the day-to-day operations of the Plan as well as oversight of the investments of the Plan’s assets. The PSPP’s assets are invested by IMCO according to our Statement of Investment Policies and Procedures (SIP&P), which includes a statement that ESG factors should be integrated into the evaluation of an individual security, asset or external investment manager. OPB is committed to comprehensively integrating ESG to manage investment risk and take advantage of opportunities.
OPB’s Board of Directors includes several members who have significant experience in relevant ESG areas. Additionally, as one of the founding clients of IMCO, OPB nominated two individuals who were selected to sit on IMCO’s Board. Collectively, IMCO’s board members have the necessary skills and expertise to provide effective oversight of IMCO’s strategies, including its work on integrating ESG within its investments. OPB’s Board meets regularly with our IMCO Board representatives.