BMO CEO Darryl White speaks at Toronto Global Forum
BMO CEO Darryl White recently joined John Graham, President & CEO of the Canadian Pension Plan Investment Board (CPPIB), for an engaging discussion on sustainability and capital allocation at the Toronto Global Forum.
As part of the larger International Economic Forum of the Americas (IEFA), the Toronto Global Forum establishes a meeting place for senior decision makers and players from the global economy to connect and strengthen partnerships. For three days this week, business delegations and policy makers from all sectors gathered virtually and in person to discuss strategic platforms that will inform the future of investments and industries. The topic of this year’s forum is Redefining a New Prosperity.
These were some key takeaways:
- While climate change is the biggest issue of our times, it is also uncovering more opportunities for real positive investments. For example, rather than divesting of traditional energy, investors should support conventional energy firms as they transition to a lower carbon future, and leverage their decades of knowledge and ingenuity. These are firms like Wolf Midstream, whose experience with Alberta’s Access Pipeline has allowed them to become the developer and operator of Canada’s largest carbon capture and sequestration facilities, the Alberta Carbon Trunk Line (ACTL).
- As we look to make significant strides in the energy transition, we must also consider the social impact of that progress. The cost of transitioning to more sustainable practices cannot disproportionately affect those who have lesser means and access. As investors, all three aspects of Environment, Social and Governance (ESG) should be at the forefront of decision making.
- Cooperation and coordination across industries and sectors, as well as governments, are vital for long term success in making sustainable change. Facing climate change requires scale to overcome its challenges. Connectivity drives engagement from everyone.
Watch Darryl White and John Graham’s full discussion here: