Last month, Canadians attending public meetings held by the Canada Pension Plan Investment Board (CPPIB) in Alberta pressed the managers of our $780-billion national pension fund on a growing contradiction: CPPIB executives acknowledge climate change is the biggest risk facing the Canada Pension Plan (CPP) – yet CPPIB continues to invest as if that wasn’t the case - betting billions on fossil fuel expansion. Read our key takeaways here.

In an op-ed published in Corporate Knights, Shift’s Campaign Specialist Cheryl Randall and Senior Manager Patrick DeRochie write that write that as four young Canadians take the Canada Pension Plan Investment Board (CPPIB) to court over climate risk, the fund must confront its fossil fuel investments and strengthen its climate governance to ensure the long-term security of Canadians’ pensions.

In its 32nd Actuarial Report on the Canada Pension Plan (CPP), published on Monday, Canada’s Office of the Chief Actuary (OCA) has again failed to consider the increasing potential for systemic climate-related financial risks in its “baseline” assessment of the sustainability of the CPP.  The harsh reality is that the future health of programs like the CPP is dependent on a stable climate. A precautionary warning from actuaries is needed to make this clear for decision-makers.