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1. Sustainable and ESG integrated investments
- Maintained assets in sustainable investment solutions at $5.8 billion.
- 95% of assets consider material ESG factors.
2024 Sustainable Investing Report
Staying the course.
“Being responsible in all that we do” remains a core principle for everyone at Mackenzie Investments. Responsibility is the bedrock of successful companies, and as an asset manager, this principle extends to our fiduciary duty in managing investments. See how we’re driving change toward a sustainable future in our 2024 Sustainable Investing Report. Below are some of the highlights.
2024 sustainable investing at a glance
Our sustainability expertise
Delivering on our sustainable investing goals
Advance our corporate and investment
sustainability practices
- Advanced our cloud-based sustainability data solution to enable firm-wide access to analysis and reporting.
- Implemented robust materiality framework to thematic and company research leveraging the Sustainability Accounting Standards Board (SASB).
- Completed thematic research on thermal coal, Scope 3, cyber security, decarbonization.
- Conducted external assessment of firm-wide and investment team sustainability practices.
Allocate to sustainable investment solutions
- Supported sustainability-related taxonomies and frameworks (i.e., Net Zero Investment Framework 2.0).
- Reviewed sustainability-related content across all channels.
- Fulfilled review of sustainable investment funds, ensuring compliance with investment objectives.
Align our collective stewardship efforts
- Completed 181 engagements focused on top transition and physicals risks.
- Implemented engagement program to support the Mackenzie Global Quantitative Equity team and completed 17 engagements.
- Refined proxy voting process, prioritizing outcomes and significant votes.
- Introduced integrated stewardship program to ensure feedback loop of engagements and proxy voting.
Advocate for impact, transparency
and disclosure
- Prioritized the energy transition through a thought leader campaign with contributions from five investment teams.
- Participated in standard-setter consultations and roundtables on various issues including Bill C-59, the Canadian Sustainability Standards Board (CSSB), methane regulation.
Action for climate
- Completed 89 engagements from our Top 100 Engagement Program.
- Sponsored Canada’s Next Sustainable Changemaker Challenge, awarding a total of $40,000 to the top three finalists.
- Made progress on net-zero interim target, with 32% of in-scope AUM verified by the Science Based Targets initiative (SBTi).
Our stewardship approach
We are committed to being long-term stewards of capital and encourage the companies we invest in to adopt responsible practices. Our advancement on climate action and sustainable investing is propelled through active engagement, ownership and advocacy efforts.
Firm-wide proxy voting
At Mackenzie, we believe that proxy voting is both an essential component of our fiduciary duty and an important part of our role as active owners. We vote proxies with the investors’ best interests in mind, taking into consideration material ESG risks.
Climate action plan
We are dedicated to supporting the transition to a low-carbon economy and managing the long-term risks and opportunities presented by climate change.
Our strategy
Our commitment to net zero
Due to increasing regulation and changing consumer and investor sentiment, we saw accelerated momentum for climate disclosure and transition plans. This positively impacted our progress towards our 2030 goal, benefiting from external efforts (like Science Based Targets initiative (SBTi) commitments) and internal stewardship activities. In 2024, our progress was measured by investee companies' credible net-zero plans, advancing towards our interim target of 50% in-scope assets with validated science-based targets from the SBTi or equivalent pathways.
Our interim target:
50%
In-scope AUM verified by SBTi by 2030
Our 2024 progress:
32%
In-scope AUM verified by SBTi
Delivering on our Sustainable Investing Policy
At Mackenzie, our goal is to simplify sustainable investing for our clients. We are transparent about our efforts with the companies we invest in, while offering solutions focused on the causes that interest our clients. As active investors, we prioritize constructive engagement over divestment in an effort to maximize our impact.
Mackenzie Investment Teams: contributors to the report
To enable comparisons between our portfolios, we adjust our portfolio metrics to approximate 100% ratings coverage for all dataset utilized within our ESG Analysis for equity and corporate fixed income instruments. Due to the nature of ESG Data coverage, non-eligible securities, such as Cash & Equivalents, ETFs, Government Securities, Commodities, Derivatives, Short Positions, and Mutual Funds have been excluded from the analysis, as they are not applicable and/or available. The ESG-Labelled Debt indicator is applicable for fixed income instruments only – including corporate and sovereign securities. As per our methodology, we have only reported ESG metrics for funds with above 70% portfolio weight coverage taking into account only the eligible securities. This threshold is not applicable for our ESG-Labelled Debt or Science-Based Targets metrics.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
The content on this page may contain forward-looking information which reflect our or third party current expectations or forecasts of future events. Forward-looking information is inherently subject to, among other things, risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed herein. These risks, uncertainties and assumptions include, without limitation, general economic, political and market factors, interest and foreign exchange rates, the volatility of equity and capital markets, business competition, technological change, changes in government regulations, changes in tax laws, unexpected judicial or regulatory proceedings and catastrophic events. Please consider these and other factors carefully and not place undue reliance on forward-looking information. The forward-looking information contained herein is current only as of December 31, 2024. There should be no expectation that such information will in all circumstances be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise.
The content (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.
MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. None of the Information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information.
Each Fund’s ESG characteristics and performance may differ from time to time. Each Fund’s ESG scores do not evaluate the ESG-related investment objectives of, or any ESG strategies used by the Fund and is not indicative of how well ESG factors are integrated by the Fund. Other providers may also prepare fund-level ESG scores using their own methodologies, which may differ from the methodologies of the data providers shown in this report. Please refer to the simplified prospectus for each Fund for further information about each Fund’s investment objectives and strategies.
The information relating to assets under management (AUM) contained herein have not yet been subject to audit review.
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