2025 Canadian Pension Climate Report Card

HOOPP has committed to net-zero portfolio emissions by 2050, defined net-zero and made reference to guidance from the Net-Zero Asset Owner Alliance. The fund states it has the goal of contributing to real-world decarbonization, although achievement of this goal has not yet been demonstrated.

In 2025, HOOPP reported surpassing its interim emissions intensity target for 2030. However, this target is less ambitious than the 2030 targets set by some of its peers. HOOPP also reported a green investments figure ($11 billion on the way to $23 billion by 2030) and that 21% of companies in its private equity and infrastructure portfolios have credible transition plans. The fund has not yet committed to setting interim targets beyond 2030.

While HOOPP's 2023 Climate Strategy went some distance in conveying the urgency of the climate crisis, the fund has not built upon that communication in its publications since.

HOOPP appears to be somewhat active in collaborative climate engagement, but the fund discloses almost no information about its engagement activities and no meaningful data on its proxy voting record. The fund does not appear to have an escalated and timebound climate engagement strategy.

HOOPP's scores moved upward in just one indicator this year: the departure of a fossil-fuel entangled director from the board contributed to an increase in HOOPP's score on Climate Integration.

HOOPP’s exclusion on new direct private investments in coal, oil exploration and oil production officially came into effect as of December 31, 2025. However, HOOPP’s most recent regulatory filings show the fund increasing its exposure to publicly-traded fossil fuel companies, with over $4 billion invested in the sector, including in companies that are expanding production and lobbying against climate policy.

HOOPP has a new CEO as of April 1, 2025; it is so far unclear what effect this will have on the fund's climate strategy and communication of climate urgency.