The Caisse de dépôt et placement du Québec is creating new climate strategy goals and wants to achieve $400 billion in climate action investments by 2030.
The investment organization exceeded its climate targets set back in 2017 at the end of 2024 and reported an approximately 50 per cent reduction in its carbon footprint, according to a press release. During the same period, global emissions increased by six per cent.
Read: 80% of Caisse’s portfolio invested in low-carbon assets: report
The new 2025-2030 strategy includes low-carbon assets, nature-based solutions, adaptation and resilience solutions and climate-solution enablers as the type of operations the institutional investor is looking to support.
Sustainable investing convictions are at the heart of fiduciary duty at the Caisse, said Charles Emond, president and chief executive officer of the investment organization, in the press release. “We are demonstrating even greater ambition by going beyond calculating our portfolio’s carbon emissions to work even harder on transitioning the real economy across all sectors by encouraging the companies we invest in to adopt clear and credible decarbonization plans.”
In other news, the Caisse and Global Affairs Canada are joining a sustainability alliance alongside other private investors and several federal government agencies.
Read: Caisse, OMERS commit US$400M to emerging market energy transition debt
The organization — Scaling Capital for Sustainable Development or SCALED — was launched with the intention of bringing together public and private institutions to remove structural obstacles in the way of mobilizing large-scale investments, according to a press release.
The initiative, which was established at the Hamburg Sustainability Conference earlier this month, is also adding Allianz Global Investors, AXA SA and Zurich Insurance Group as private investment organizations.
Agencies from Canada, Denmark, France, Germany, the U.K., South Africa and the KfW Development Bank, a financial institution investing on behalf of the German federal government, have also joined SCALED.
The group is planning to launch a new company before the end of the year to mobilize private capital for sustainable development projects in a more efficient way. The expectation is for the new company to immediately work on investment vehicles dedicated to support projects with sustainable impact like solar farms or entrepreneurship support.
Read: Canadian pension funds recognized for governance, sustainability practices: report