ESG influencing company strategy, increasing oil market vulnerability: reports

The Canada Pension Plan Investment Board is investing about $12.825 million in common shares of a Calgary-based oil and gas infrastructure service provider.

The pension plan purchased common shares in CWC Energy Services Corp. from a third-party investment fund that represents about 17 per cent of total equity. The transaction comes as the CPPIB faces scrutiny for its continued investment in the oil and gas sector.

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Last week, a report from the Canadian Centre for Policy Alternatives said the CPPIB increased its investments in oil and gas sector companies by at least 7.7 per cent between 2016 to 2020. In a statement to the Canadian Investment Review in response to the report, Frank Switzer, managing director of investor relations, said in part: “We disagree with any simple conclusion that investing across the total energies spectrum is inconsistent with the necessary efforts to address the significant challenges of evolving the global economy to lower emissions. It must happen and the sophisticated array of solutions from across the spectrum will help make it so.”

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In other news, the Caisse de dépôt et placement du Québec is acquiring a 20 per cent stake in a Montreal-based system application and product processing integration business.

Beyond Technologies offers a wide range of services including technical business consulting, customer experience, project management and cloud services hosting. The investment comes as the business prepares to expand its footprint in Europe and the United States. The company provides business management consulting skills and SAP technology expertise to businesses in several sectors including the mining, manufacturing, retail and distribution industries.

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