Clarington Moves to Adopt Prudent Investor Standard

On April 8, 2024, Clarington's General Government Committee discussed the adoption of the Prudent Investor Standard and an agreement with the ONE Joint Investment Board (JIB). Jennifer Hess, Manager of Investment Services, and Keith Taylor, Chief Investment Officer of ONE Investment, presented details regarding the initiative. The committee received Report FSD-015-24, which outlined the benefits, governance, and future growth associated with the Prudent Investor Standard. The committee approved a resolution to execute the agreement with ONE JIB, contingent upon the successful execution of the agreement. The effective date for the by-law and the Draft Investment Policy will be determined accordingly. The committee emphasized the importance of updating references in the policy to reflect the effective date of the prudent investor standard.