Grades assigned to Canadian pension funds\u0027 climate policies ranged from B+ to D\u002D. Find out more.
“A significant gap has emerged between Canadian pension funds and leading global institutional investors in their approach to fossil fuels,” Scott said.
“Leaders have also made clear that a stable climate is critical to protecting their members’ retirement security, set clear expectations for portfolio companies to align their business models with 1.5 degrees Celsius pathways, and begun excluding high-risk investments in the leading cause of the climate crisis — fossil fuels,” Shift said.
Those three were the only Canadian pension funds to receive overall grades of B or higher, the lowest grade assigned to four international funds Shift used for comparison. The four International funds tracked in the report card included National Employment Savings Trust , a workplace pension scheme in the United Kingdom with more than 10 million members, and Andra AP-Fonden , which is part of the Swedish national pension system.
Shift assessed the pensions on whether they had credible Paris-aligned portfolio-level climate targets, including ambitious and accountable interim climate targets. The group also measured the extent to which the pension manager is communicating the urgency and severity of the climate crisis, including how this is articulated at the board level.
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