2025 Canadian Pension Climate Report Card
Fossil Fuel Exclusions
As part of the 2025 Canadian Pension Climate Report Card, Shift identified the emissions reduction targets, additional climate targets, fossil fuel exclusions, fossil fuel investments and Indigenous rights policies of 11 Canadian pension managers. Fossil fuel exclusions (or lack thereof) appear below.
The 2025 Canadian Pension Climate Report Card analyses, assesses and ranks the progress made by eleven of Canada’s largest pension managers and two international pension managers in their approach to climate risk and investment decisions as they relate to the climate crisis. The report is based on publicly available information to December 31, 2025. Cover image credit: Jim Peaco / National Park Service.
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