An independent organization, the Ontario Teachers' Pension Plan invests the pension fund assets and administers the pensions of 329,000 active and retired teachers in Ontario."
The Ontario Teachers' Pension Plan Board (Ontario Teachers'; French: Régime de retraite des enseignantes et des enseignants de l'Ontario or RREO) is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund, and is one of the world's largest institutional investors. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation.
Ontario Teachers' was established on Jan. 1, 1990. Until then, Ontario teachers' pensions had been sponsored solely by the Ontario government. Assets of the plan had been invested in government bonds only.
The plan administers the pensions for some 184,000 teachers, principals, and school administrators, and pays pensions to some 145,000 retirees. In 2019, $6.4 billion in benefits was paid to members. Ontario Teachers' is headquartered in Toronto, with operations in London, Hong Kong and an office in New York. Effective January 1, 2020, Jo Taylor succeeded Ron Mock as President and Chief Executive Officer. The Chair of the Board is Steve McGirr.
Ontario Teachers' is one of Canada's largest institutional investors having reported $207.4 billion in net assets on December 31, 2019. It has an excellent track record for investment performance with an average annual return of 9.7% since inception.
Ontario Teachers' owns and manages a diversified portfolio of Canadian and international assets. Through its fully owned real estate subsidiary Cadillac Fairview, Ontario Teachers' owns properties that include the Toronto-Dominion Centre, Toronto Eaton Centre, and the Rideau Centre in Ottawa. Through its private equity investment arm Private Capital, Ontario Teachers' owns or has had interests in companies such as Munchkin, Plano and Shearer's Foods.
Ontario Teachers' owns a substantial portfolio of infrastructure assets including: 100% of Bristol Airport and minority stakes in Birmingham Airport, Copenhagen Airport, Brussels Airport and London City Airport; the High Speed 1 rail line linking London with the Channel Tunnel; and international water and power utilities. Ontario Teachers' also owns Camelot Group PLC, which holds an exclusive licence to operate the U.K. National Lottery. It has acquired a share of the Irish National Lottery in 2014.
From 2003 to 2012, the fund was the principal owner of Maple Leaf Sports & Entertainment, the parent organization of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and Toronto Argonauts.
In 2017, it acquired Mémora Servicios Funerarias, a Spanish funeral provider, from 3i.
On September 26, 2018, Ontario Teachers' joined finance, health and government leaders in signing the Tobacco-Free Finance Pledge (of the NGO Tobacco-Free Portfolios), which commits the pension plan to no longer invest in tobacco companies.
In 2019, Ontario Teachers', along with Amazon and others, assisted in financing to help the New York Yankees regain ownership control of their regional sports network the YES Network, resulting in a minority ownership in the network.
Ontario Teachers' posts a list of major investments annually on its website.
On the January 12, 2004 episode of "Rick Mercer Report," comedian Rick Mercer had a short segment about the Ontario Teachers' Pension Plan, in which he humorously contrasted the plan's beneficiaries (i.e. teachers) with the investments the plan had made, including shopping malls and the tobacco industry.
On December 2, 2008, New York lawyer Marc Stuart Dreier was arrested at Ontario Teachers' Toronto offices and charged with impersonating, through his words and by the use of business cards, Michael Padfield, a senior lawyer with the pension plan. A receptionist in the Ontario Teachers' offices had become suspicious and notified Toronto police who promptly arrested him. Dreier was attempting to close a sale of forged Ontario Teachers' promissory notes, worth $44.7 million USD, by meeting with the buyers right in the Ontario Teachers' offices. On December 4, 2008, Dreier was indicted by the United States Justice Department for successfully executing a similar corporate officer 'impersonation' routine, including bluffing his way into using the momentarily vacant CEO's office of one 'selling' firm for a meeting with the buyer, to sell forged financial instruments on at least two occasions in New York.
Barbara Zvan is a co-author on the 2019-06-14 Globe and Mail article, "Canada must accelerate innovation, transparency and market access to win capital back" | local copy (html, captured 2020-10-23).
[CBC.ca, 2020-10-23] Mark Carney says smart money needs better tools to measure climate risk. Trillions of dollars flooding into climate solutions are transforming finance.
Mark Carney, the former central banker whose long list of titles includes United Nations Special Envoy on Climate Action and Finance, says the world of business is going through a period of dynamic transition as it joins the battle against climate change.
Mark Carney, who served as Governor of the Bank of Canada from 2008 to 2013 before moving on to other roles, described a financial sector that has been energized by a green transformation almost invisible to most of us outside the finance industry. ...
... In February, Carney famously described the process of stopping the rise of global temperatures as turning "an existential risk into the greatest commercial opportunity of our time."
Addressing Thursday [2020-10-22]'s conference organized by the Institute for Sustainable Finance at Queen's University in Kingston, Ont., he spoke of a Canadian pension and money-management sector that punched above its weight in global influence.
"Part of the reason why the Canadian banks are profitable is because they are very good at managing risk," Carney said. "It's going to take a couple of years for everybody to be better at managing climate risk and really understanding it, but there's every reason why our banks could be some of the leaders."
When Carney was governor of the Bank of England, British Prime Minister Boris Johnson convinced him to take a key role at COP26 [2021 United Nations Climate Change Conference], the UN Climate Change Conference originally scheduled for next month in Glasgow.
COVID-19 has forced a delay in the 26th world climate conference until November 2021, but a key focus of next year's gathering over which Carney will help preside remains the same: helping people with money avoid the risk as a changing climate affects the economy.
"It's going to be the suppliers of capital who will be making the decisions here," quipped Jim Leech, the chancellor of Queen's University and former head of the Ontario Teachers' Pension Plan, who moderated Carney's talk in Kingston. "It's not pulled out of the air. ..."
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