Item - 2019.IB5.3
Tracking Status
- This item was considered by Toronto Investment Board on December 4, 2019 and was adopted with amendments.
IB5.3 - Investment Policy Update
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Board Decision
The Toronto Investment Board:
1. Received the report (November 15, 2019) from the Executive Director, Corporate Finance for information.
2. Requested the Director, Capital Markets to report back to the next meeting on the governance options as it pertains to the ESG factors and to review the various service providers of this data.
Origin
Summary
This report provides an update to the Toronto Investment Board ("Board") regarding the Investment Policy that was considered by City Council at their meeting on October 2 and 3, 2019.
The report was referred back to the Chief Financial Officer and Treasurer (CFO&T) for review. City Council adopted a motion to review certain sections of the Investment Policy in consultation with The Toronto Atmospheric Fund (TAF) and the Toronto Investment Board. The CFO&T was asked to report back at the City Council meeting of January 29 and 30, 2020.
The motion asks for additional improvements to three areas of the Investment Policy, namely: Investment Beliefs; Environmental, Social, and Governance (ESG) Integration; and Monitoring and Reporting.
Background Information
https://www.toronto.ca/legdocs/mmis/2019/ib/bgrd/backgroundfile-140376.pdf
Attachment 1 - Investment Policy considered by Council
https://www.toronto.ca/legdocs/mmis/2019/ib/bgrd/backgroundfile-140377.pdf
Attachment 2 - Special Meeting - Motions
https://www.toronto.ca/legdocs/mmis/2019/ib/bgrd/backgroundfile-140378.pdf
Motions
That the Toronto Investment Board request the Director, Capital Markets to report back to the next meeting on the governance options as it pertains to the ESG factors and to review the various service providers of this data.