CIFSC Publishes Responsible Investment Identification Framework

TORONTO, (July 5, 2022) – The Canadian Investment Funds Standards Committee (CIFSC) has formally published its Responsible Investment (RI) Identification Framework and response to comments.

The CIFSC RI Identification framework was developed in collaboration with Canadian industry stakeholders including research firms, data providers, asset managers, and industry bodies as a way for Canadian investors to find investment products that have disclosed they use a responsible investment approach. The approaches defined in the framework are complementary to the CSA’s recent guidance on ESG fund disclosures, as well as the CFA Institute’s Global ESG Disclosure Standards for Investment Products. A full outline of the framework is available here.

The committee thanks all of those who commented for their thoughtful feedback and responds to comments here.

“This framework is a huge step in helping Canadian investors find products that suit non-financial investment preferences. Moreover, having an identification framework recognized across the Canadian landscape will allow for easier comparability,” said CIFSC Chair Ian Tam.

“As responsible investing quickly evolves, it is vitally important that investors understand the concept spans far beyond just excluding certain sectors or industries in a portfolio. This framework, which defines six non-mutually exclusive approaches, will add clarity for investors who wish to invest in a responsible manner.”

Over the coming weeks, members of CIFSC will compile a list of funds identified under one or more of the listed responsible investment approaches. Once completed, the list will be displayed publicly on the CIFSC website and integrated into major Canadian research databases.

About the CIFSC:
The Canadian Investment Funds Standards Committee (CIFSC) was formed in January 1998 by Canada’s major mutual fund database and research firms with a self-imposed mandate to standardize the classifications of Canadian-domiciled mutual funds. The primary purpose of the committee is to provide investors with a consistent set of mutual fund categories. While the committee recognizes that no fund category scheme is suited for all purposes, establishing a standard is nonetheless considered beneficial for the Canadian fund investor.