2025 Canadian Pension Climate Report Card
Ontario Teachers’ Pension Plan (OTPP)
OTPP was an early climate leader among Canadian funds, committing to reach net-zero portfolio emissions by 2050 in 2021 and reporting progress toward targets each year since then. The fund's Paris Aligned Reduction Target program for its portfolio companies appears to be an effective way for OTPP to engage on climate and make progress.
However, in 2025 OTPP is falling out of a leadership position, as other pension managers, such as La Caisse, put out more ambitious climate strategies. OTPP's board continues to be entangled with the fossil fuel industry, its climate strategy hasn't been updated in over three years, and the fund is no longer communicating with urgency about the risks the climate crisis poses to its portfolio and its members. Unlike several of its Canadian peers, OTPP has not yet made any public commitment to exclude new investments in fossil fuels. Nor has OTPP disclosed profitable, climate-aligned transition plans for its existing fossil fuel assets.
OVERALL SCORE
B-
Climate Urgency
C+
Climate Engagement
B+
Climate Integration
C+
Fossil Fuel Exclusions
F
Interim Targets
B
Paris-Aligned Target
A-
The Ontario Teachers’ Pension Plan (OTPP) is Canada’s largest single-profession pension plan. It administers a defined benefit pension plan for 343,000 active and retired teachers across 170 organizations, including public school boards and private schools throughout Ontario.
Assets Under Management (AUM): $269.6 billion (June 30, 2025)
The 2025 Canadian Pension Climate Report Card analyses, assesses and ranks the progress made by eleven of Canada’s largest pension managers and two international pension managers in their approach to climate risk and investment decisions as they relate to the climate crisis. The report is based on publicly available information to December 31, 2025. Cover image credit: Jim Peaco / National Park Service.
View another pension fund manager
