As CPPIB backslides on climate, other Canadian pension giants remain committed to net-zero
Last week, the Canada Pension Plan Investment Board (CPPIB) quietly abandoned its 2022 commitment to invest the Canada Pension Plan (CPP) in line with achieving net-zero emissions by 2050. The unacceptable abdication of responsibility by CPPIB stands in stark contrast to other Canadian pension giants, six of which released annual reports this year that unambiguously confirmed that they remain committed to net-zero by 2050. Many of CPPIB’s largest pension peers in other countries also remain committed to net-zero.
Statement on the UPP’s Net-Zero by 2040 Emissions Commitment and Coal Exclusion Policy
The University Pension Plan’s (UPP) newly released Climate Action Plan, including its net-zero emissions by 2040 commitment, has unequivocally established the fund as a climate leader in Canada’s pension sector. It’s clear that the UPP is listening to, learning and acting on the concerns of its members, including those who are experts in climate science, sustainable finance and climate and energy policy.
Statement on IMCO's 2021 ESG Report
IMCO is taking the first steps towards building a credible climate plan. It has committed to net-zero emissions across its portfolio by 2050 or sooner, but still needs to set interim targets to reduce the emissions of its portfolio and scale up investments in climate solutions.
Statement from Shift on CPP's Net-zero by 2050 Commitment
CPP Investments (CPP) has taken an important step today in recognizing that the long-term success of our national retirement fund is directly linked to addressing the climate crisis. While Shift is relieved to see the CPP finally catch up with its peers in making this essential net-zero commitment, the fund does not yet have a credible plan for achieving it and decarbonizing its significant fossil fuel assets.
Statement on the Investment Management Corporation of Ontario’s commitment to net-zero by 2050
We are pleased to see IMCO join the growing ranks of global asset owners and managers committing to change their investment strategies to ensure the retirement savings of Ontario public employees are invested in a safe climate future.
ANALYSIS: New climate report shows OTPP is listening to teachers- but there’s much more to do
The Ontario Teachers’ Pension Plan, Canada’s third largest pension, committed in January to net-zero emissions by 2050, and in September set interim targets for getting there, but it wasn’t until this week that the OTPP disclosed crucial details on how exactly it plans to achieve its goals. Shift Action for Pension Wealth and Planet Health breaks down the highlights and examines what still needs to be done.
Statement on the Ontario Teachers’ Pension Plan’s new emissions intensity reduction targets
The Ontario Teachers’ Pension Plan’s (OTTP) announcement of near-term emissions intensity reduction targets is a very welcome step to ensure the retirement savings of Ontario teachers are being invested in a safe climate future. It’s the strongest climate commitment we’ve seen yet from a Canadian pension fund.