September 12, 2022 Investment Policy Advisory Committee

Agenda

1. CALL TO ORDER

2. APPROVAL OF MINUTES – June 6, 2022

3. APPROVAL OF THE ORDER OF BUSINESS AND APPROVAL OF ADDITIONS AND DELETIONS

4. BUSINESS ARISING OUT OF THE MINUTES - NONE

5. CALL FOR DECLARATION OF CONFLICT OF INTERESTS

6. CONSIDERATION OF DEFERRED BUSINESS – NONE

7. REPORTS/DISCUSSIONS

7.1 Treasurer’s Report Quarter Ending June 30, 2022 [PDF]

7.1.1 Draft Investment Policy Advisory Committee Report – Quarter ending June 30, 2022

Motion:
THAT the Investment Policy Advisory Committee recommend that the Audit and Finance Standing Committee forward the Investment Policy Advisory Committee Report – Quarter Ending June 30, 2022, to Halifax Regional Council for Information.

7.2 Annual Investment Policy Review [PDF]

Motion: 
THAT the Investment Policy Advisory Committee: 
1.    Approve the following changes to the Investment Policy Advisory Committee Quarterly Report structure:
a.    Include ESG ratings for the financial institution positions of the portfolio;
b.    Report and review ESG scoring by the Investment Policy Advisory Committee annually; and
c.    Select S&P Global as the rating agency for ESG scoring. 
 
2.    Recommend that the Audit and Finance Standing Committee recommend that Halifax Regional Council approve amendments to the Investment Policy to:
a.    Remove the following four counterparties from the approved listing: 
     i.    CDP Financial Inc
     ii.    Desjardins Group
     iii.    Caisse Centrale Desjardins
     iv.    OMERS Realty Corporation
b.    Update the formatting of Schedule A to include a missing percentage sign (%) and include the adjective “credit” to describe the type of minimum rating being referred to in the table header.

8. ADDED ITEMS 

9. DATE OF NEXT MEETING – December 5, 2022

10. ADJOURNMENT

INFORMATION ITEMS - NONE