A sustainable approach for Bell investments
In April 2021, Bell took a defining step in aligning its ESG objectives and intentions for future financings by publishing the BCE Inc. Sustainable Financing Framework, a first for any Canadian telecommunications company. The framework will guide future issuances of green, social and sustainability bonds or other sustainable financings by Bell Canada, the proceeds of which are intended for a portfolio of eligible investments in any of the following ten green and social categories:
- Climate adaptation
- Emergency response and pandemic relief
More details about this initiative are provided in the Sustainability bond allocation report on our website.
Responsible investment by Bell’s pension plans
Bell is a sponsor of several pension plans for the benefit of its active and retired team members. Within these plans, we are responsible to direct the investment of approximately $30 billion in assets. We have a fiduciary duty to deliver on our pension promise and believe doing so within an investment process informed by ESG factors can assist in the generation of superior long-term risk-adjusted returns for our stakeholders. As such, in 2021, we took steps to reinforce our commitment to integrate ESG factors into our pension plan investment process by adopting a new Responsible Investing Policy. Our policy approach is one that prioritizes engagement with our investment managers and investee companies as we:
- work to understand and manage the risk that climate change and transition to a lower-carbon economy poses to our pension portfolios.
Approximately 95% of our pension assets are with managers that have adopted ESG investing policies and are either signatories to the United Nations Principles for Responsible Investment (UN PRI) or the Global Real Estate Sustainability Benchmark (GRESB), the standards for responsible investment in the asset management and real estate industry.