The report recounts the manager's commitment to driving ESG performance
British Columbia Investment Management Corporation (BCI) has released its latest stewardship report for 2024-2025, which detailed its continued commitment to driving ESG performance as well as portfolio outcomes.
In the report, BCI has engaged 176 portfolio companies in order to address material risks as well as opportunities. About 34% of the companies have either achieved its objectives or built positive momentum. In the most recent proxy season, BCI has casted votes at 2,225 public company meetings in 52 countries.
Some of its reported engagement successes included the completion of a multi-year collaborative engagement with Teck Resources on climate risk, the protection of the minority shareholder interests during the Atacadao SA acquisition, and the contribution to the governance reform movement in South Korea which led to its Commercial Act amendments.
The report also introduced its updated ESG engagement priorities, which now included physical and transition climate change risk, responsible AI, and human capital management. This reflected the areas which are expected to bear a big impact on investment performance in the near future.
Jennifer Coulson, BCI senior managing director and global head of ESG, stated that the previous year has seen various geopolitical conflict as well as economic uncertainty. She noted that ESG has been suggested to be inconsistent when it comes to delivering financial returns.
“Our experience managing $295 billion in global assets tells a different story: effective stewardship drives sustainable value for our clients, and is fundamental to our approach,” said Coulson.
“As an active, long-term investor, BCI has a responsibility to help position our portfolio for the risks and opportunities ahead. Every engagement, every vote, and every policy submission is ultimately about protecting and growing the assets entrusted to us by our clients,” she added.
In fiscal 2025, BCI reportedly reached a 10% return for its combines pension plan clients, with gross assets under management reaching $295 billion and net AUM totalling $251.6 billion.
