Advisory committee – Quebec’s 
sustainable finance roadmap

The development of Quebec’s sustainable finance roadmap requires the involvement of various stakeholders from the public, academic and private sectors.

Government coordination of the work is ensured jointly by the Ministère des Finances du Québec (MFQ) and the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP).

The work is carried out by the advisory committee, co-chaired by the MFQ, the MELCCFP and Finance Montréal.
The mandate of the advisory committee is divided into three main phases:

• Phase 1: Produce a status report on sustainable finance in Quebec;
• Phase 2: Development of a sustainable finance roadmap;
• Phase 3: Development of an implementation strategy.

The advisory committee is composed of 22 members from the public, private and academic sectors, half of whom were invited because of their particular expertise, and the other half selected through a call for applications.

The members of the advisory committee are:

• Autorité des marchés financiers, Hugo Lacroix, Surintendant des marchés de valeurs
• Banque nationale du Canada, Debby Cordeiro, Première vice-présidente, Communications, Affaires Publiques et ESG
• Boralex, Mihaela Stefanov, Vice-présidente principale, Gestion intégrée des risques et responsabilité sociétale de l'entreprise
• CDPQ, Bertrand Millot, Chef de l'investissement durable
• Concordia University, Amr Addas, Professor
• Environmental Defence Canada, Julie Segal, Gestionnaire principal, Financement climatique
• Evol, Chantal Thieblin Goffoz, Directrice, Financement d’impact et développement durable
• Fondaction, Geneviève Morin, Présidente-directrice générale
• Fondation familiale Trottier, Flavie Desgagné-Éthier, Directrice du programme en changements climatiques
• Fonds de solidarité FTQ, Sophie Robillard, Vice-présidente, Accompagnement aux entreprises et Cheffe du développement durable
• HEC Montréal, Iwan Meier, Professeur titulaire et titulaire de la Chaire en finance durable
• iA Groupe financier, Mégane Mandruzzato, Directrice, Durabilité
• Impak Analytics, Paul Allard, CEO
• Investissement Québec, Nicolas Turgeon, Directeur, Performance environnementale industrielle 
• International Sustainability Standards Board, Isabelle Mégré, Directrice du bureau de Montréal
• Millani inc., Milla Craig, Présidente et Cheffe de la direction
• Mouvement Desjardins, Gildas Poissonnier, Chef du développement durable
• Normandin Beaudry, Mélinda Bastien, Conseillère principale et actionnaire
• Oxfam Québec, Béatrice Vaugrante, Directrice générale 
• PRI, Lilya Mincheva, Gestionnaire senior
• Société de crédit commercial autochtone, Jean Vincent, Président-chef de direction
• Société Générale Canada, Francis Repka, CEO

The role of committee members is not to represent their organization's interests in the development of sustainable finance, but to reflect on and contribute to the mission and implementation of the roadmap project in the general interest of the finance community and Quebec. Members are expected to: 

• Consult their sector of activity; 
• Contribute their experience and expertise to the project; 
• Be independent and impartial in the process; 
• Respect the confidentiality of the process; 
• Act as experts and advisors; 
• Guide the work and prioritize issues in relation to the project; 
• Participate concretely in the development of recommendations for each of the project's major phases: status report, roadmap development and implementation strategy. 

Among other things, members will be called upon to make recommendations on the project's objectives, orientations and courses of action. They also participated in the sub-committees' thematic choices and delegated representatives in the latter, when they touched their area of expertise;

• Expertise related to sustainability issues in their industry: candidates had to demonstrate in-depth expertise in sustainable finance, including an understanding of ESG principles, responsible investment strategies, disclosure standards and applicable regulations. They had to be able to provide relevant advice to guide the development of the Quebec’s sustainable finance roadmap;

• Knowledge of the financial sector: committee members had to have in-depth knowledge of the financial sector in Quebec and Canada, including financial institutions, capital markets, financial products and risk management practices. They had to be able to understand the specific issues related to sustainable finance and bring pragmatic perspectives to the table; 

• Relevant professional experience: candidates needed to have significant professional experience in relevant areas such as finance, economics, sustainability, financial regulation or investments. This experience enables them to make a significant contribution to the development of the Quebec sustainable finance roadmap;

• Sectoral representation: it was important to ensure that the advisory board represented a wide range of economic sectors, such as financial services, energy, industry and technology, as well as those related to the environment and biodiversity. This ensures a global perspective and balanced representation of the interests of the various industries affected by sustainable finance; 

• Regional perspectives: the regions of Quebec were taken into account to ensure regional diversity and to allow for issues specific to each region of Quebec to be taken into account; 

• Stakeholder representation: the advisory committee had to include representatives of the various stakeholders, including financial institutions, investors, companies, civil society organizations, professional associations and universities. This promotes balanced decision-making and representation of the diverse interests related to sustainable finance; 

• Ability to collaborate:  it was important for committee members to demonstrate an ability to communicate clearly and proactively during advisory committee meetings, and make themselves available to participate in the various meetings and work sessions, as well as provide regular feedback on the progress of the mandate;

• Fluency in French: the work and discussions are carried out in French only.

The identity of the selected members has been announced in a transparent way, by informing the selected members individually and publicly announcing the composition of the advisory committee. A kick-off meeting of the advisory committee to present the mandate, objectives and work schedule attached to the Quebec’s sustainable finance roadmap was held in March 2024.