Assessing Risks & Opportunities



We don’t use environmental, social and governance (ESG) factors in isolation to select or exclude assets. We assess strategically material ESG factors within our comprehensive investment process to inform our decision-making and support strong risk-adjusted returns for clients.

Our ongoing company engagement and independent proxy voting efforts deepen our understanding of ESG implications and promote continuous improvement.

The ESG Committee reports directly to our Board of Directors, which helps set priorities and oversee initiatives.

"An assessment of ESG risks and opportunities provides important context as we evaluate opportunities for long-term value creation.”

Mathew Hermany, Chief Investment Officer



00 — BTN - Logo Roll — PRI


00 — BTN - Logo Roll — CCGG


  • What is responsible investment?

    According to PRI (Principles for Responsible Investment), responsible investing involves considering environmental, social and governance (ESG) issues when making investment decisions and influencing companies (known as active ownership or stewardship). It complements traditional financial analysis and portfolio construction techniques.
    Responsible investors can have different objectives. QV is primarily focused on financial returns and the ESG factors that could impact these.

  • Why are ESG factors relevant?

    ESG risks are business risks. Understanding how a company’s exposure to material ESG factors relates to its corporate strategy is a fundamental consideration for long-term investors.

  • How do you evaluate ESG factors?

    True to our investment process, we employ a bottom-up approach to ESG. We use our proprietary ESG scorecard to identify and monitor material ESG factors unique to each investment.  

  • Do you approach responsible investment the same way across all funds?

    Yes, our philosophy and process are consistent across the firm.  

    None of our products are explicitly branded as responsible investing strategies. We feel active ownership and prudent consideration of ESG factors are key components of any strategy seeking to invest in enduring businesses over the long term. 

  • Who makes up your responsible investing team?

    Every member of our investment team is tasked with considering ESG risks and opportunities. We do not have a dedicated individual focused exclusively on ESG factors, as we believe better investment outcomes can be achieved when the same people evaluate all risks and opportunities in context. We have an ESG Committee that coordinates our efforts. The ESG Committee reports directly to our Board of Directors, which helps set priorities and oversee initiatives.

  • Do you have any responsible investing affiliations?

    We are a signatory to the UN-supported Principles for Responsible Investment (PRI). Part of our commitment is to formally report and receive feedback on our ESG activities annually.

    We are also members of the Canadian Coalition for Good Governance (CCGG), the pre-eminent corporate governance organization in Canada.

    In 2021 we publicly endorsed CCGG’s Stewardship Principles, further formalizing our commitment to be active and effective stewards of our investments.

  • Why don’t you apply exclusionary screens?

    While companies in high-risk and/or controversial industries are not explicitly excluded from consideration on a policy basis, these types of companies are less likely to meet our investment criteria.

    Using our proprietary ESG scorecard, we carefully consider company-specific issues on a case-by-case basis within our investing framework.

  • What is your approach to engagement?

    Through regular engagement with management teams and board directors, we can better understand a company’s overall strategy, communicate our expectations as long-term shareholders, and identify potential impacts on business or financial performance.

    We generally focus on company-specific issues. In prioritizing resources, we may consider factors such as the size of the holding and the materiality of the ESG issue to our long-term investment case.

    Escalation of a material concern could include voting action, further engagement with the board, a reduction in exposure or divestment.

  • Do you use external ESG research?

    We may use third-party research to bolster our independent analysis. We do not rely on external ESG scores or ratings in our process.

QV Investors is an independent asset and wealth management firm focused on principles of quality and value. As whole owners of the business, our team is fully invested in growing clients’ capital while minimizing the risk of loss.

#1008 222 - 3rd Ave. SW
Calgary, AB, T2P 0B4