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Changing Gears: Sustainable Finance Progress In Canada

Two years ago, the Expert Panel on Sustainable Finance released a robust set of recommendations to scale sustainable finance and bolster Canada’s competitive advantage. Where are we now?

The Institute for Sustainable Finance released an expert-driven assessment on Canada’s progress against the recommendations at this pivotal moment for global climate action. Its conclusion is informed by interviews with 34 leading Canadian experts in sustainable finance, including the Governor of the Bank of Canada, leaders from the “Big Five” Canadian banks, representatives from Canada’s largest insurance companies and pension funds, global market experts and investors.

“As the world rushes ahead, our public and private sector must shift into a higher gear,” said Sean Cleary, Chair of ISF and the report’s co-author. “By taking decisive action now, we can propel the Canadian-specific solutions that our industries need to thrive over the next three decades.”

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In Conversation with Canada's Top Experts on Sustainable Finance

The experts participating in this report are:

  • Alanna Boyd, Vice President, Public and Corporate Affairs at Sun Life Financial
  • Andrew Hall, Director, Sustainable Finance, TMX Group
  • Andy Chisholm, Board Director, RBC
  • Barb Zvan, Chief Executive Officer, University Pension Plan
  • Catherine McCall, Executive Director, Canadian Coalition for Good Governance
  • Corey Diamond, Executive Director, Efficiency Canada
  • Cynthia Williams, Osler Chair in Business Law, Osgoode Hall
  • Dan Wicklum, President and CEO, Transition Accelerator
  • Dominique Barker, Managing Director, Head, Sustainability Advisory, CIBC
  • Fate Saghir, Senior Vice President, Sustainable Investing, Mackenzie Investments
  • Hillary Thatcher, Senior Director, Project Development Indigenous Infrastructure, Canada Infrastructure Bank
  • Jeff Cyr, Managing Partner, Raven Indigenous Capital Partners
  • Jennifer Coulson, Vice President, ESG, British Columbia Investment Management Corporation
  • John Stackhouse, Senior Vice President, Office of the CEO, RBC
  • Jonathan Hackett, Managing Director and Head, Sustainable Finance, BMO
  • Karen Clarke Whistler, Principal, ESG Global Advisors
  • Kathy Bardswick, President and CEO, Canadian Institute for Climate Choices
  • Large Canadian Pension Plan
  • Laura Zizzo, Co-Founder and CEO, Manifest Climate
  • Lesley Marks, Chief Investment Officer, Mackenzie Investments
  • Lindsay Patrick, Managing Director and Head, Sustainable Finance, RBC
  • Lisa DeMarco, Senior Partner and CEO, Resilient LLP
  • Margaret Childe, Head of ESG, Canada, Manulife Investment Management
  • Martin Grosskopf, VP, Portfolio Manager and Director, Sustainable Investing, AGF
  • Milla Craig, Founder and President, Millani
  • Monika Freyman, Head of Responsible Investment, Mercer Canada
  • Nicole Vadori, Head of Environment, TD Bank
  • Pamela Steer, Advisory Board, Institute for Sustainable Finance
  • Peter Tertzakian, Deputy Director, ARC Energy Institute
  • Rob Wessling, CEO, The Co-operators
  • Sandra Odendahl, Vice President, Sustainability, Scotiabank
  • Stephane Tardif, Managing Director, Office of the Superintendent of Financial Institutions
  • Tiff Macklem, Governor, Bank of Canada
  • Tom Rand, Managing Partner, ArcTern Ventures

Backed by the Leading Voices on Sustainable Finance

ISF established a dedicated Advisory Council to support the development of the report. They include:

  • Andrea Moffat, Vice President, Ivey Foundation
  • Catherine McCall, Executive Director Canadian Council for Good Governance
  • Michael Thom, Managing Director CFA Institute
  • Davinder Valeri, Director, Strategy, Risk and Performance Management, CPA Canada
  • Florian Roulle, Head of Sustainable Finance, Finance Montreal
  • Alyson Slater, Senior Director, Sustainable Finance, Global Risk Institute
  • Dustyn Lanz, CEO, Responsible Investment Association
  • Andrew Hall, Director, Sustainable Finance, TMX Group
  • Pamela Steer, ISF Advisory Board
  • Margaret Childe, Head of ESG, Canada, Manulife Investment Management
  • Monika Freyman, Head of Responsible Investment, Mercer Canada
  • Hillary Thatcher, Senior Director, Project Development, Indigenous Infrastructure, Canada Infrastructure Bank