Ontario Teachers’ Pension Plan Sets Goals to Achieve Net Zero Greenhouse Gas Emissions | The Canadian News

TORONTO – The Ontario Teachers’ Pension Plan Board is setting interim targets to curb greenhouse gas emissions tied to its billion-dollar portfolio.

Canada’s largest single-profession pension plan says it aims to reduce the carbon intensity of its investments by 45 percent by 2025 and two-thirds by 2030, compared to its 2019 baseline.

The targets come after the $ 227.7 billion fund announced last January a commitment to achieve net zero greenhouse gas emissions by 2050.

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Large institutional investors have been under increasing pressure in recent years to invest in clean energy and sell financial assets that contribute to climate change.

The teachers’ plan focuses on investing in green businesses and encouraging their portfolio companies to decarbonize rather than divest from fossil fuels.

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Ziad Hindo, chief investment officer at Teachers, says the targets are industry-leading and could encourage other pension funds to invest in green assets.

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