Canada Pension Plan opens COP28 by celebrating oil and gas investments
As the scientific imperative to phase out fossil fuels dominates discussions at the global climate conference, CPPIB highlights its growing oil and gas investments
Opinion: Canada's pension plan shouldn’t be a cheerleader for Alberta’s oil and gas industry
Read the op-ed from Patrick DeRochie, Shift’s Senior Manager, in Corporate Knights.
“By pledging to grow its portfolio of oil and gas assets, CPPIB is making an alarming bet on the world failing to limit global heating to safe levels, putting the CPP at risk from an accelerating energy transition and our retirement security at risk from catastrophic climate change.”
Statement on CPPIB-Owned Civitas Resources' $6.2 Billion Oil Acquisition
A company privately owned by the Canada Pension Plan Investment Board (CPPIB) announced this morning that it’s spending CA$6.2 billion to increase its oil production by 60%. Ongoing, reckless investment in fossil fuel expansion by Civitas Resources (Civitas) makes a mockery of the CPPIB’s net-zero emissions commitment and gambles the retirement savings of millions of Canadians on climate failure.