The Ontario Teachers’ Pension Plan is setting new targets to accompany its plan to tackle climate change and curb greenhouse gas emissions tied to its multi-billion dollar portfolio. The pension fund said it aims to slash the carbon emissions intensity of its investments by 45 per cent by 2025 and by two-thirds by 2030, compared to its […]
The Canada Pension Plan Investment Board has reached a deal to sell half of its shares of a Washington-based energy company to the Ontario Teachers’ Pension Plan. According to the terms of the deal, the CPPIB will sell half of its 31.6 per cent stake in Puget Holdings to the Ontario Teachers’ and the other […]
It’s a welcome development that so many pension fund managers are increasingly preoccupied with the ethical implications of their investments and incorporating data to ensure that funds adhere to the environmental, social and governance criteria. Described by Mirza Baig, global head of ESG research and stewardship at Aviva Investors, as the “year ESG came of age,” 2020 saw record sustainable […]
Canada’s pension plan sponsors have a fiduciary responsibility to consider climate change in their financial decisions, according to Randy Bauslaugh, counsel for pensions and benefits and executive compensation at McCarthy Tétrault LLP, during a webinar hosted by the Canada Climate Law Initiative and the Canadian Pension & Benefits Institute. “The failure of plan administrators and […]
Demand for defined benefit pension plan sponsors to focus on environmental, social and governance factors through their investments is growing. Both plan sponsors and members have been increasingly vocal about keeping ESG issues top of mind. For example, the Healthcare of Ontario Pension Plan has worked on balancing this increased appetite for ethical investing with […]
New York City is taking major steps toward divesting from fossil fuels by hiring investment advisors to review three of its pension plans and make recommendations about divestment. Combined, the three plans have more than $155 billion in assets under management, of which approximately $3 billion is invested in fossil fuel reserve owners’ securities. The […]
Concordia University’s Foundation is divesting from coal, oil and gas within five years and will become the first university foundation in Quebec to target 100 per cent sustainable investments by 2025. The foundation is also doubling its target of impact investments by 2025, from five to 10 per cent. This long-term pool of capital is […]
It’s too early in the rise of populism to determine whether it will turn out to be a secular or a cyclical trend, according to John Denham, chief investment officer at the Workplace Safety and Insurance Board. As a result, populism has yet to have a firm affect on overall investment strategies, he noted during a panel at Benefits Canada‘s and […]