Canadian pension funds are among the institutional investors participating in Climate Engagement Canada, a new initiative to promote a net-zero economy. The initiative, which is coordinated by several investor networks, is launching with 27 institutional investors that collectively manage more than $3 trillion in assets, according to a press release. The participating pension funds include […]
The Caisse de dépôt et placement du Québec is planning to completely divest from oil production — roughly one per cent of its total portfolio or about $3.9 billion based on the size of its net assets as of June 30 — by the end of 2022, as part of its new climate change strategy. […]
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 […]
Imperial Oil Ltd. is recommending investors attending its annual meeting in May vote against a shareholder resolution that it adopt a corporate-wide target to achieve net-zero carbon emissions by 2050. The motion, made by Aequo Shareholder Engagement Services on behalf of Quebec group retirement system Bâtirente, argues that Imperial’s current 2023 emissions-reduction target is a step in […]
Quebec-based pension fund Bâtirente is applauding CIBC for joining the Partnership for Carbon Accounting Financials. Through the industry initiative, the bank will publish the greenhouse-gas emissions associated with its loans and investments and consider the adoption of reduction targets aligned with the Paris Agreement, according to a press release. A shareholder proposal submitted by the […]
THE CANADIAN PRESS Sustainable investing experts say TC Energy Corp.’s plan to decarbonize the Keystone XL pipeline is unlikely to save its fortunes, as a growing movement to divest from fossil fuels gains political clout. U.S. President-elect Joe Biden intends to sign an executive order on inauguration day to rescind the presidential permit for the […]