Summer 2024 Activities: Clear Skies’ Continued Commitment to Engagement and Stewardship
As the summer draws to a close, Clear Skies has been busy ensuring that our engagement efforts remain at the forefront of our impact investing strategy. This Q3 we have actively engaged with our investees, driving change through ownership and policy-related advocacy, all while reinforcing our commitment to the Canadian Coalition for Good Governance (CCGG) principles of stewardship.
Active Ownership Engagements
Our commitment to responsible ownership has been evident in our ongoing dialogues with investees. Over the summer, we held three meetings with the management teams of companies across our portfolio. These discussions centered on critical issues such as biodiversity, diversity and inclusion, climate risk management, and protein diversification. Notably, 75% of these engagements resulted in companies committing to implement more robust ESG practices by the end of the year.
We also took the lead in collaborative engagements, partnering with other investors to push for industry-wide changes. For instance, our involvement in the FAIRR Initiative has been instrumental in advocating for more sustainable practices within the animal agriculture sector and alternative protein initiatives. Our efforts through FAIRR, combined with those of other signatories, have led to 5% of targeted companies improving various degrees of sustainability targets such as protein sourcing and greenhouse gas reduction targets.
Policy-Related Engagements
Beyond individual companies, Clear Skies has been actively involved in shaping industry standards and influencing political change. We endorsed the COP16 business statement from Business for Nature coalition urging governments to accelerate collective efforts to secure ambitious nature policies. Our efforts were supported by 130 other endorses. Clear Skies also signed the Financial Sector statement on plastics, advocating for a robust global plastics treaty. This statement, endorsed by 160 financial institutions and drafted by the PRI, UNEP FI, Finance for Biodiversity, VBDO, the Business Coalition for a Global Plastics Treaty, CDP, and other PRI signatories, gained the attention of member states and delegates at high-level events and the INC-4 negotiations in Ottawa.
We also collaborated with the Investor Agenda accelerating the private capital flows needed for a climate-resilient, nature-positive, just net zero transition. This statement will be released in late Q3 2024, outlining suggestions and targets.
Commitment to CCGG Principles of Stewardship
Our dedication to stewardship is further evidenced by our commitment to the Canadian Coalition for Good Governance (CCGG) Principles of Stewardship. This summer, we reaffirmed our adherence to these principles, ensuring that our investment strategies align with the highest standards of corporate governance and responsible investing.
As part of this commitment, we released an open letter from our CEO, outlining our ongoing efforts to integrate these principles into every aspect of our investment process. Read the full letter here.
Looking Ahead
As we wrap up the summer, we remain committed to driving positive change through our engagement efforts. The progress we’ve made this season is a testament to our belief that active ownership and policy advocacy are powerful tools for creating long-term value and sustainability. We look forward to continuing these efforts into the fall and beyond, as we work toward a more responsible and impactful investment landscape.
