Highlighting Investors for Paris Compliance

Investors for Paris Compliance (I4PC) accelerated Canada’s transition from fossil fuels by influencing the investment sector from 2021 to 2026. Through research on corporate net-zero commitments, shareholder advocacy and public communications, I4PC strengthened the responsible investor community and pushed for systemic change. “Our work impacted anyone who benefited from climate action,” explains Matt Price, Executive Director of I4PC. “We focused on mobilizing investors to align capital with climate solutions.”

With McConnell’s support, I4PC zeroed in on the insurance industry, which Price describes as “perhaps the most climate-exposed financial sub-sector.” Here, I4PC documented a contradiction: “The insurance industry is both a major investor in, and underwriter of fossil fuel projects, yet is incurring billions in claims from climate damages that result from the combustion of fossil fuels,” explains Price.

Insurance costs rise as climate damages mount, which creates affordability challenges for households. I4PC had been bringing this issue to provincial regulators, highlighting the urgent need for solutions. “Our insurance work felt like tugging on a thread that the whole world is attached to,” notes Price. “It was about equity, affordability and ultimately, who pays for climate damages.”