Ontario Teachers’ Pension Plan sets targets to hit net zero greenhouse gas emissions

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

Canada’s largest single-profession pension plan says it aims to slash the carbon intensity of its investments by 45 per cent by 2025 and by two-thirds by 2030, compared against 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.

Read more: Ontario teachers’ pension fund posts 3.8% return for 1st half of 2021

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

Teachers’ plan focuses on investing in green companies and encouraging its portfolio companies to decarbonize rather than divestment from fossil fuels.

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

© 2021 The Canadian Press

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