Caisse aims to cut portfolio’s carbon footprint 25% by 2025
The Caisse de dépôt et placement du Québec is setting bold targets to shelter its portfolio against the impact of climate change. The country’s second-largest pension fund is seeking more profitable investment opportunities and means to avoid assets it forecasts will be left behind in a global marketplace being reshaped by an increasingly low-carbon world economy.
The move comes as institutional investors around the world are reassessing climate risks and other so-called environmental, social and corporate governance (ESG) factors in response to stakeholder pressures, marketplace shifts and new regulations.
“The world is changing, frankly, faster than most people expected,” Michael Sabia, chief executive officer of the Caisse, said at a Montreal event to discuss the pension fund’s new climate policy. “We need to change the way we make investment decisions.”
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