Photo: The Canadian Press
Canada Pension Plan Investment Board president and chief executive officer Mark Machin

TORONTO — A group of Canadian pension plan investment managers is calling on companies to standardize their environmental, social and governance disclosure to help them in their investment decision-making, and better assess and manage their risks.

The eight fund managers together manage a total of about $1.6 trillion in assets.

In a joint statement Wednesday, the group, which includes the Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan and Alberta Investment Management Corp., said it is committed to creating more sustainable and inclusive growth by integrating environmental, social and governance factors into their strategies and investment decisions.

They said it is an integral part of their duty to contributors and beneficiaries, and will unlock opportunities and mitigate risks, but that they require transparency from companies.

“How companies identify and address issues such as diversity and inclusion, human capital, board effectiveness and climate change can significantly contribute to value creation or erosion,” the statement said.

“Companies have an obligation to disclose their material business risks and opportunities to financial markets and should provide financially relevant, comparable and decision-useful information.”

The statement is signed by the chief executives of AIMCo., B.C. Investment Management Corp., the Caisse de depot et placement du Quebec, CPP Investments, the Healthcare of Ontario Pension Plan, the Ontario Municipal Employees Retirement System, Ontario Teachers and the Public Sector Pension Investment Board.