This chapter discusses shareholders’ rights in Canada and Canada’s stewardship principles, developed by the Canadian Coalition of Good Governance (CCGG). It explores three questions: Is the focus on stewardship as a way of mitigating corporate risk necessary in Canada, given a generally risk-averse corporate culture? How have the stewardship principles motivated institutional investors to take on climate change risk, which is understood by the federal government to pose systemic risks to the Canadian economy and its financial system? And if a coalition of investors with assets under management comparable to the size of the entire capital markets in Canada does not take on this systemic risk, collectively, can it be said that by fulfilling their individualized stewardship responsibilities they will be promoting the long-term sustainable creation of value and betterment of society, as the principles aspire to do? This chapter argues that using the power of CCGG’s members’ collective financial strength to focus only outward, on what investee companies are doing, risks falling short of what CCGG’s collective ambition could be in light of climate change.