Tell the BCMPP that it’s time to phase out fossil fuels
You may be a member of the BCMPP if you work for:
A city or town in BC
A health care organization
A school or university
Transit services
Police or fire departments
Emergency services
Other employers that deliver community and public services
The British Columbia Municipal Pension Plan (BCMPP) is a retirement savings plan for people who work in BC's public sector. It's one of the biggest pension plans in Canada and is managed by the British Columbia Investment Management Corporation (BCI).
Tell the BCMPP to protect your pension fund and the planet.
Join Fossil Free MPP, a group of BCMPP members calling for a sustainable pension plan.
The climate crisis poses major risks to the BCMPP and other pension funds
Physical Risk:
Risks from extreme weather events and natural disasters can damage real estate and infrastructure investments and disrupt business operations in companies the plan invests in.
Transition Risk:
Transition risks arise as the global economy shifts away from fossil fuels, which could reduce the value of carbon-intensive assets and industries.
Regulatory Risk:
Policy and regulatory changes to reduce greenhouse gas emissions, such as carbon pricing or emissions caps, may impact investment returns across various sectors.
Legal/Reputational Risk:
Plans also face legal and reputational risks if they're seen as not adequately addressing climate concerns in their investment decisions, potentially leading to member criticism or legal challenges.
Systemic Risk:
Perhaps most importantly, climate change poses systemic risks to the entire financial system. As rising temperatures affect food production, supply chains, and economic stability worldwide, even well-diversified portfolios may be impacted.
The long-term nature of pension obligations makes these climate risks particularly relevant, as today's investment decisions need to account for environmental changes that could unfold over decades.
