The Ontario Teachers’ Pension Plan is committing to achieving net-zero greenhouse gas emissions by 2050.
The commitment includes the establishment of concrete targets for portfolio emissions as well as increased investments in climate solutions, according to a press release, which noted the Ontario Teachers’ will also ensure portfolio companies manage and report their emissions annually. The pension plan will also use proceeds from its green bond offering to invest in climate-friendly opportunities.
“As a global pension plan, we’ll leverage our scale and influence to transition to a low-carbon economy and create a sustainable climate future,” said Jo Taylor, president and CEO of the Ontario Teachers’, in the release. “With coordinated action, net-zero by 2050 is an ambitious, but achievable, goal. We’re committed to playing our part alongside other organizations and governments around the world to effect significant, positive change.”
The commitment follows recent calls from environmental groups for the Ontario Teachers’ to divest from companies that develop or transport fossil fuel products.