regulatory scrutiny

Two Canadian pension plans risk reputation hit from investments in troubled Thames Water

Two Canadian pension plans risk reputation hit from investments in troubled Thames Water

A troubled water utility company in the United Kingdom that counts two of Canada’s biggest public pensions as large shareholders is facing regulatory scrutiny and fines for sewage leaks and could require a financial bailout. The Ontario Municipal Employees Retirement System (OMERS) and British Columbia Investment Management Corporation (BCI) own 31.8 per cent and and 8.7 per cent of Thames Water, respectively. Analysts at DBRS Morningstar said in a July 5 report that OMERS and BCI are expected to weather the storm with minimal financial damage given their size,  diversification and long-term performance — even if Thames Water were to collapse — but there is reputational risk for the Canadian pensions, which could affect future investment opportunities.

'An abomination': Sask. water expert warns of contamination following Alberta's coal policy changes

'An abomination': Sask. water expert warns of contamination following Alberta's coal policy changes

Alberta's plan to allow for open-pit coal mining in the Rocky Mountains could be a serious threat to Saskatchewan's water supply, says the director of the Global Water Futures Project at the University of Saskatchewan. "For a water scientist to see this happening, it's just an abomination to have these types of developments suggested in the headwaters of the rivers that supply drinking water and the economy for most of Saskatchewan," John Pomeroy told CBC's Blue Sky. Last spring, the Alberta government revoked a 1976 policy that blocked open-pit coal mining on the eastern slopes and peaks of the Rockies.