Statement: CPPIB bets another $1.4 billion on fossil fuel power plants

The Canada Pension Plan Investment Board (CPPIB) today announced a new $1.4 billion investment to take a minority stake in a major American fossil fuel power plant operator– yet another gamble on climate failure that imperils the Canada Pension Plan and its members. The investment in AlphaGen, which owns and operates 23 power plants that burn fossil gas, oil, diesel and kerosene across six states, means CPPIB has now gambled $5.5 billion on risky new fossil fuel investments within the last two weeks– following its $4.1 billion investment in Sempra Infrastructure on September 23.