Responsible Investment

At the Desjardins Group Pension Plan (DGPP), responsible investment (RI) is a source of added value.

As a long-term investor, DGPP believes that effective management of ESG risks and opportunities can positively influence the financial performance of its investments while having a concrete and positive socioeconomic impact on communities. This approach aligns with the cooperative mission of the Mouvement Desjardins, combining financial performance with social responsibility.

Supported by strong governance, a targeted influence strategy, and cross-functional team mobilization, the implementation of RI allows DGPP to navigate systemic risks while identifying new investment opportunities that are meaningful and create long-term value.

Report on Climate-Related Risks and Opportunities

This report outlines how RRMD incorporates climate issues into its investment strategy. It highlights the measures taken to assess, manage, and mitigate risks associated with climate change, while identifying investment opportunities that arise from these efforts.

It is based on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), an internationally recognized framework aimed at improving the transparency of climate-related financial information.

Our approach

With a targeted and evolving approach, environmental, social, and governance (ESG) factors are considered and integrated into the financial decisions of the Plan.

Integration of ESG Factors

ESG criteria are analyzed and applied throughout the investment process, including the selection of our external managers.

Exclusions

Currently, the DGPP excludes from its investment scope:

• Tobacco companies

• Companies involved in the thermal coal sector

• Companies associated with the manufacture of non-conventional or mass destruction weapons.

Influence Strategy and Collaboration

The DGPP recognizes that sustainability challenges and issues are complex and often require international consideration. Within its means, the DGPP works with partners and recognized players in the RI community to refine its expertise and share best practices. In a manner consistent with its RI leadership and Desjardins Group's commitments, the DGPP ratifies strategic collaboration initiatives, when deemed appropriate. Currently, the DGPP participates in three strategic collaborations related to its investment activities:

	The Principles for Responsible Investment (PRI), a global initiative supported by the United Nations that aims to promote sustainable and responsible investment practices (member since 2018).
	The Global Real Estate Sustainability Benchmark (GRESB), an independant organization specializing in ESG performance benchmarking for the real estate and infrastructure asset sectors (member since 2022).
	The ESG Data Convergence Initiative, a partner committed to streamlining the private investment industry’s historically fragmented approach to collecting and reporting ESG data (member since 2023).

The PRI Transparency Report of the DGPP (2023) provides a detailed account of the initiatives and processes implemented by RRMD in recent years. For each category, the PRI produces an evaluation for which RRMD received a four-star rating, placing it at or above the median of its peers both in Canada and internationally. These results show that the RI initiatives implemented in recent years are bearing fruit. It is noteworthy that more than 650 international asset holders completed this questionnaire in 2023.

Proxy Voting Rights Exercise

As a shareholder, the DGPP has adopted a proxy voting rights policy that includes positions on corporate governance and certain social and environmental issues. In order to ensure consistent execution of its portfolio, the DGPP, where possible, repatriates and exercises its voting rights.

For more information, consult the DGPP Policy on the exercise of proxy voting rights (PDF, 3,73 MB).

Between July 1st 2023 and June 30th 2024, the DGPP exercised its voting rights associated with securities held through external asset management mandates at over 2,000 shareholder meetings. View a summary of the votes (PDF, 2,73 MB) cast for the companies in our portfolio.

Governance

A solid structure supports our RI strategy. Among other things, the Responsible Investment Committee contributes to strategic direction, monitoring the Plan's annual action plan and its performance indicators.

For more information on the framework and assignment of mandates and responsibilities of the Plan’s entities and teams, consult the Responsible Investment Policy.

Cross-sector approach

All DGPP teams contribute to implementing responsible investment and are accountable for it. The mobilization of all resources aims at the following objectives:

• Improve process efficiency and enhance the Plan’s strategic position as an expertise contributor.

• Develop RI skills within DGPP teams.

• Increase the accountability of various players.

• Develop a culture of RI excellence.

• Lay the groundwork for a research program to identify opportunities to create value and generate positive impacts.

Responsible Investment Policy

The DGPP has adopted a Responsible Investment Policy that provides a clear, flexible framework to help incorporate ESG criteria into its asset management, taking into account the markets in which it invests. The policy oversees the implementation of responsible investment in DGPP activities and define monitoring mechanisms and reporting related to DGPP's responsible investment activities.

Desjardins Group Pension Plan

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