Montréal, Québec, June 12, 2018– Finance Montréal (FM) is pleased to announce it will integrate the Finance and Sustainability Initiative (FSI) into its activities to create the Finance and Sustainability Initiative of Finance Montréal (IFD-FM). Today, FSI is holding the last event of its 2017–2018 program, and FM’s involvement will begin immediately to prepare for the coming season that begins in the fall. FSI, which has been at the forefront of promoting responsible investment in Montréal since 2010, has developed a strong and dynamic network through its many activities. This new association with FM will make it possible to ensure the continuity of FSI’s mission, as well as bolster FM’s efforts to foster industry cooperation in the responsible investment sector.
FM’s involvement in the area of sustainable finance dates back many years, particularly through the responsible investment work group it launched in December 2016. Among other initiatives, the work group led the Declaration of Institutional Investors on Climate-Related Financial Risks, released in October 2017 and today signed by investors representing more than $1.2 trillion in assets under management.
Under the guidance of a steering committee comprised of key players in Montréal’s sustainable finance sector, FM will take over FSI’s flagship activities with confidence, including the FSI Competition for Best Sustainability Report, the FSI-PRI Scholarship for Best Research on Responsible Investment, the promotion of the Sustainable Investment Professional Certification, as well as the numerous lunch conferences and breakfast workshops.
“Since FSI was created in 2010, a great many dedicated volunteers made it their mission to facilitate the evolution of financial institutions’ ‘traditional’ investment practices to integrate more broadly environmental, social and governance (ESG) issues, with a view to sustainable development. Eight years later, in the current global context, our mission is all the more relevant,” said Milla Craig, President of the Board at FSI. “With Finance Montréal, we are confident that the financial community will have all the resources it needs to streamline the integration of ESG criteria into investment analysis, selection and management, to make Montréal Canada’s leading sustainable finance accelerator and hub,” added Craig.
“FSI has played an important role in successfully transforming responsible investment from a peripheral consideration to a core factor in the investment sector,” said Louis Lévesque, Chief Executive Officer of Finance Montréal. “We are excited about taking the baton from FSI and working toward its vision of a world where investment decisions are always made with responsible investment in mind in order to promote sustainable development,” concluded Lévesque.
About Finance Montréal
Finance Montréal, Québec’s financial cluster, was created in 2010 by institutions in the financial services industry at the invitation of the Québec Government. Finance Montréal brings together 45 institutional members. Its mission is to develop and promote Québec’s financial services industry. The organization works to enhance Montréal’s reputation as a world-class financial hub and engages in international business development activities to attract foreign firms in Montréal by promoting various fiscal incentives, including the IFC tax credit. Finance Montréal fosters cooperation among a vast range of institutions to stimulate the industry’s growth while raising awareness of the financial specializations found in Montréal. To learn more about Finance Montréal, visit www.finance-montreal.com.
Founded in 2010, the Finance and Sustainability Initiative (FSI) is a non-profit organization based in Montreal, Quebec, whose mission is to facilitate the evolution of investment practices by integrating ESG criteria into investment analysis, selection, and management, all with a view to sustainable development. On May 29ththis year, FSI members voted in favour of integration with Finance Montréal at a special assembly. To find out more about FSI, please visit www.fsi-ifd.org.
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