News Release

IFIC Makes Submission to CIFSC on Responsible Investment Identification Framework

June 15, 2022 (Toronto) – The Investment Funds Institute of Canada (IFIC) today provided its feedback to the Canadian Investment Funds Standards Committee (CIFSC) in response to its Responsible Investment Identification Framework consultation.

“The industry strongly supports CIFSC’s efforts to provide an objective standard for identifying responsible, sustainable and ESG funds,” said Paul Bourque, President and CEO, IFIC. “The Framework is complementary to the Canadian Securities Administrators’ disclosure requirements, and collectively will help investors and advisors more easily identify RI funds and the strategies that they employ.”

IFIC made a number of recommendations in its submission including: requiring that the RI/ESG mandate be specifically stated in the investment objective of the fund’s prospectus; tightening certain key definitions; and removing links to ESG or sustainability score methodologies provided by certain data vendors to prevent real or perceived conflicts of interest.

IFIC also made a submission to CIFSC related to the proposed new multi-sector fixed income category.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information, please contact:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317