Statement on the Ontario Teachers’ Federation’s intention to appoint an oil and gas executive to the OTPP Board of Directors
At a time when the OTPP has made ambitious goals to align its investment strategy with addressing the climate crisis, it is bizarre that newly-chosen Directors appear to lack the required climate expertise needed to implement the OTPP’s net-zero commitment.
Statement on OTPP's 2022 Responsible Investing and Climate Strategy Report
The OTPP continues to demonstrate national leadership in aligning the retirement savings of its members with a safe climate future. But despite its increasingly sophisticated strategy to manage climate-related financial risks, the OTPP is silent on how its massive oil, gas, pipeline and and related infrastructure investments have a credible, science-based pathway pathway to decarbonization.
Statement from Shift Action for Pension Wealth and Planet Health on the Ontario Teachers’ Pension Plan’s 2021 Annual Report
The OTPP reduced portfolio emissions intensity by 32% and absolute emissions by 13% between 2019 and 2021. But the $242 billion pension fund continues to have significant problems with transparency and credibility when it comes to reconciling its climate commitments with its investments in high-risk fossil fuels.
Ontario Teachers’ reportedly in talks to invest in Indian coal giant behind Australian Carmichael mine
Despite its net-zero commitment, the Ontario Teachers’ Pension Plan is reportedly considering a US$2 billion investment in Adani Enterprises, a giant Indian conglomerate with new coal mines and power stations planned and under construction.
Statement from Shift Action for Pension Wealth and Planet Health on the Ontario Teachers’ Pension Plan’s increased stake in Scotia Gas Networks
Yesterday, the OTPP announced it’s investing even more of the retirement savings of Ontario teachers in fossil fuel infrastructure in the midst of a worsening climate crisis.
Statement from Shift Action for Pension Wealth and Planet Health on the Ontario Teachers’ Pension Plan’s purchase of a stake in Puget Sound Energy
Yesterday, the Ontario Teachers’ Pension Plan (OTPP) announced that it is partnering with Macquarie Asset Management to purchase a 31.6% stake in Puget Sound Energy (PSE) from CPP Investments. While PSE certainly has the potential to become part of the solution to the climate crisis, that is not the case today.
Statement from Shift on the Ontario Teachers' Pension Plan's acquisition of a 69.4 per cent stake in an Italian fossil gas pipeline network
On Christmas Eve, working and retired teachers across Ontario were treated to yet another fossil gas pipeline network on behalf of their pension fund.