Climate Risk Investment Study

In 2019, the SBI engaged Meketa Investment Group (“Meketa”) to review the potential impact that climate change may have on the long-term investment risks to the SBI’s investment portfolio and indicate approaches that the SBI may take to address and mitigate identified investment risks.

In the report below, titled "SBI Climate Risk Investment Discussion - November 2019", Meketa discusses the potential impact of climate change on investments; highlight peer pension plan current approaches to climate risks and opportunities; review the SBI’s current approach to climate issues; and provide insights on how the SBI’s portfolio is currently exposed to the risks and opportunities of transition to a low carbon economy—specifically the Plan’s exposure to fossil fuel companies, including the coal subsector, and exposure to energy transition opportunities. Finally, Meketa offers recommendations for the SBI’s evolution in its approach to climate change issues.

  SBI Climate Risk Investment Discussion - November 2019 (pdf)

Climate Change Investment Analysis Report

In 2021, the SBI engaged Meketa to expand upon their 2019 report with a more in-depth Climate Change Investment Analysis.  This project includes three reports which will be published in 2022. 

The "Phase I: Global Trends" report reviews high-level trends in financial markets and regulatory frameworks.  Reports two and three will focus on what other asset owners are doing to manage climate change risks; and the SBI's current portfolio positioning and options for implementing a successful climate transition strategy. 

  Climate Change Investment Analysis Report - Phase I: Global Trends (pdf)