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The British Columbia Investment Management Corp. is committing to five-year climate-related targets for its public markets program.

The pension fund is targeting a cumulative $5-billion investment in sustainability bonds and a 30 per cent reduction of carbon exposure in its global public equities portfolio by 2025, according to a press release, which noted the targets represent an evolution of the objectives set out in the BCI’s 2018 climate action plan.

Read: BCI adopting more stringent ESG expectations

“The BCI always works in the best financial interests of our clients,” said Gordon J. Fyfe, chief executive officer and chief investment officer at the BCI, in the release. “Assessing and managing the opportunities and risks presented by climate change is core to that responsibility. These targets will help ensure our clients benefit from the shift to a low-carbon economy.”

The BCI is the latest Canadian pension fund to announce climate-related investment targets. In January, the Ontario Teachers’ Pension Plan committed to achieving net-zero greenhouse emissions by 2050.

Read: Ontario Teachers’ committing to net-zero emissions by 2050