The Canada Pension Plan Investment Board is acquiring a 6.3 per cent stake in an Indian renewable energy developer and operator from the Asian Development Bank for more than $179 million. The company, ReNew Power Ventures Private Ltd., is headquartered in Gurugram, India, and works in wind, utility-scale and rooftop solar power-producing assets. “This transaction aligns well with our overall power and […]
Environmental, social and governance factors have a role to play in the smart beta strategies that institutional investors have become more familiar with in recent years, according to an investment manager who spoke at a seminar in Toronto on Thursday. When creating an index, exposure to environmental, social and governance factors can work just like any other […]
Recent weeks and months have seen a rise in activity around pension fund divestment from carbon assets. This month, the City of New York announced a plan to divest from fossil fuels within its five pension funds. In doing so, it joins pension plans in Washington, Berlin and Cape Town, as well as funds at the University […]
The California State Teachers’ Retirement System and U.S. investment manager Jana Partners have sent an open letter to Apple Inc. encouraging the company to address the problem of phone addiction among young people. Collectively, the two investors hold approximately US$2 billion in Apple shares, according to the letter, which expresses concern that if left unaddressed the […]
The Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ are providing equity to help Groupe Solmax Inc. acquire Houston-based GSE Environmental Inc. Groupe Solmax, a Canadian-based producer of polyethylene geomembranes for industrial and environmental applications, has purchased GSE Environmental, a geosynthetics manufacturer, from private equity firm Littlejohn & Co. and certain funds held by investment manager […]
From AMPs to SIPPs: Why plan sponsors have a lot on the regulatory plate in 2018.
Politically motivated investments in environmental, social and governance ventures are a key factor in the underperformance of the California Public Employees’ Retirement System, according to a new report by the American Council for Capital Formation. “The ESG principles that have helped shaped CalPERS’ portfolio over the last four years are truly jeopardizing the retirement fund,” says […]
Some of the world’s largest institutional investors are throwing their weight around on behalf of mother earth. A group called Climate Action 100+, which is comprised of 225 institutional investors with more than US$26 trillion in assets under management, has launched a program to engage with the world’s largest corporate greenhouse gas emitters, encouraging the companies to step up […]
Canada is the eighth-largest investor in new coal projects around the world, according to a new report by German non-profit organization Urgewald. Of the top 100 investors in companies developing new coal plants listed in the organization’s report, the Caisse de dépôt et placement du Québec ranked No. 72, with $433 million invested. The Canada Pension Plan Investment Board just […]
Quebec-based pension fund Bâtirente is investing $15 million towards the creation of a green bond fund to be set up and managed by its partner AlphaFixe Capital Inc. The deal, which puts five per cent of Bâtirente’s total assets in energy transition, is its second major investment in this field. In 2016, it gave a mandate to AGF Management […]