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Canada Pension Plan abandons net-zero target
- Canada Pension Plan Investment Board announced on May 21, 2025, it is abandoning its net-zero carbon emission target in its latest annual report.
- This decision followed recent legal changes, notably amendments to Canada's Competition Act in June 2024, creating new risks about net-zero commitment interpretations.
- CPPIB's chief John Graham stated the shift altered only their language, not investment actions, emphasizing climate and sustainability integration from a long-term investor viewpoint.
- Shift Action criticized the move as a failure to protect 22 million Canadians’ retirement savings, highlighting CPPIB’s $3.3 billion 2024 fossil fuel investments and lack of credible decarbonization plans.
- This retreat contrasts with other Canadian pension funds continuing net-zero efforts and raises concerns about climate risks threatening pension fund returns and financial market stability.
16 Articles
16 Articles
Canada Pension Plan Abandons Net-Zero Pledge
The Canada Pension Plan (CPP) is no longer maintaining its commitment to achieve net-zero emissions by 2050. The $700 billion plan’s investment board (CPPIB) said May 21 on its website that while achieving net-zero emissions remains a widely adopted goal for many countries, it presents “risks and opportunities” for investors. It said “recent legal developments” in Canada have changed how net-zero commitments are interpreted. “In particular, ther…
Canada's largest pension fund walks away from net-zero target
The national pension plan that safeguards the retirement savings of 22 million Canadians has become the latest major financial institution to walk from its net-zero climate commitments, and appears to be laying the blame on anti-greenwashing provisions that were added to the federal Competition Act last year. “Achieving net zero by 2050 remains a widely adopted goal and critical ambition for many countries, companies, and international organizat…
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