DGC BC Responsible Investing
The DGC BC investment reserves are held with several purposes in mind as follows:
- Holding reserves equivalent to two years fixed operating expenses is financially prudent to cover off wind down costs in the event of a full cessation of organizational activities.
- Reserves are a safety net. Historically the DGC BC has tapped into these reserves to sustain activities during periods of industry downturn.
- Investment reserves are available as a war chest in the event of labour action. Funds could be allocated to a strike fund or to pay extraordinary legal fees.
- A portion of returns from the portfolio are used to fund Guild activities as determined by the Executive Board. The Directors Caucus Initiative - Just Watch Us and creation of directors.ca are examples.
These funds are overseen by Hoyle Heath Wealth Advisory Group at CIBC Wood Gundy based on a conservative Investment Policy Statement that’s reviewed and approved by the Executive Board on an annual basis.
In recent years the DGC BC, like many organizations, has embraced a focus on sustainability. This approach is applied to areas like: reduction of printing, sourcing green office supplies, choosing an office location with sustainability incorporated into its design as well as one that hosts a robust onsite recycling program. These measures have been in place for many years now.
More recently, the DGC BC has shifted its focus to consider how other organizations with which the Guild interacts are also embodying a core philosophy of sustainability. Ensuring that the DGC BC portfolio is invested responsibly is an important aspect of this ongoing work.
Today the DGC BC portfolio incorporates Environmental, Social and Governance (ESG) considerations into its investment strategy in the most mindful way possible. It also goes a step further and specifies that a portion of the greater portfolio is invested within a fund that falls into the category of Impact Investing. Impact Investing refers to funds that go beyond a do no harm approach to embrace an intent to generate positive, measurable social and environmental impact alongside a financial return.
As part of this work the Guild also commits to transparency regarding these choices as demonstrated by the information provided here.
DGC BC Responsible Investment Timeline
MAY 2021
- DGC BC Responsible Investment Committee is formed.
- Concept of ESG (Environmental, Social & Governance) is introduced and considered.
JUNE 2021
- Committee dig into the concept of Impact Investing.
JULY 2021
- Consideration of comparable organization’s approaches to ethical investing including other BC Film Unions, other DGC District Councils, CMPA BC and other non-profits such as UBC.
NOVEMBER 2021 - FEBRUARY 2022
- DGC BC Investment Survey gathers feedback from all elected on investing philosophy.
MARCH 2022
- Survey data is collated and considered by the Committee.
- Report and recommendations are created and presented to the Executive Board.
APRIL 2022
- The DGC BC Executive Board accept the Responsible Investment Committee’s report and endorse the five recommendations with minor amendments.
- The Guild's long time Investment Advisors, Hoyle Heath Wealth Advisory Group at CIBC Wood Gundy, begin implementing the recommendations.
- A negative screen is applied to DGC BC investments to ensure removal of all direct exposure to fossil fuels (oil and gas extraction).
MAY 2022
- Executive Board approves proposed changes to DGC BC Investment Policy Statement capturing the essence of the Guild’s new investment philosophy.
JUNE 2022
- Executive Board approves transfer of $350,000 to NEI Environmental Leaders Fund.
- The fund has been in operation since 2016 and it satisfies the mandate of investing in a fund with an aim of making a positive global impact.
- Fund components include: Smart Environment, New Energy, Water, Sustainable Foods, Circular Economy and Mobility
- NEI Environmental Leadership Fund Documents:
FALL 2022
- DGC BC will continue to demonstrate leadership among film organizations as our responsible investing journey continues. This timeline will be updated regularly as the Guild’s Responsible Investing Policy evolves and progresses.
Investing Definitions
An approach to investing that focuses on putting money into companies that are socially and environmentally sustainable and avoiding investing in companies that are considered harmful.
Socially Responsible Investing (SRI) is an approach to investing that considers the nature of the business conducted by the companies in a portfolio.
Investing that considers Environmental, Social and Governance (ESG) aspects.
Exclusion of certain sectors, companies or practices.
Investment funds that go beyond a do no harm approach to include an intent to generate positive, measurable social and environmental impact alongside a financial return.
Areas of Consideration within Ethical (ESG) Investing
ENVIRONMENTAL
- Fossil Fuels - Production & Use
- Plastics, Air & Water Pollution
- Unsustainable Land Use
- Threats to Biodiversity
SOCIAL
Human Rights/Labour Standards
- Water/Sanitation Access
- Food Insecurity
- Food Production Standards
- Employee Relations/Standards
- Discrimination
- Slave/Child Labour
Addiction Issues
- Opioid/Tobacco/Alcohol
- Gambling/Internet
Personal Security
- Predatory Lending
- Consumer Data Harvesting
Defence Contractors
- Munitions/Weapons/Conflict Zones
GOVERNANCE
- Tax Avoidance
- Executive Pay
- Director Nominations
- Corruption
- Cyber Security
