The Canada Pension Plan Investment Board @cppib (CPPIB) earned an overall C-minus in Shift’s Canadian Pension Climate Report Card, placing it toward the bottom of the pack of Canadian pension funds on its approach to the climate crisis.

4/The report reveals which funds are well-positioned to step up as political headwinds and worsening climate impacts test the resolve of Canada’s pension giants. It also exposes a troubling divergence between leading and lagging institutions.

Today Shift released its annual Canadian Pension Climate Report Card, an independent benchmark for evaluating the quality, depth and credibility of climate policies for 11 of Canada’s largest pension managers, collectively managing $2.4 trillion in retirement savings.

5/ In spite of the hype, hydrogen faces intractable financial, physical, and technical barriers. The report summarizes expert analysis detailing why phasing out gas is required to meet climate obligations, and the many reasons why hydrogen is unable to replace it.

4/ Gas companies downplay their exposure to growing transition risk by talking up plans to repurpose their infrastructure to transport hydrogen, but these flimsy claims do not stand up to due diligence.

3/ The report finds that nine of Canada’s largest pension managers are co-owners of 22 private gas companies that operate nearly 350,000 kilometres (km) of pipelines around the world.

1/ Today, Shift: Action for Pension Wealth and Planet Health (Shift) released a new report: Gaslighting the Energy Transition: Hydrogen cannot prevent investments in gas from putting planet and profits at risk. shiftaction.ca/gaslighting-t…

2/ CNRL continues to ignore blaring warnings from climate scientists that oil and gas production must immediately peak and rapidly decline in order to avoid catastrophic global heating outcomes. Yet Canada's largest pension funds continue to hold US$1.7 billion+ in shares in CNRL

The Shift office is closed for the winter break - we’ll be back on January 6, 2025. Happy New Year from the Shift team!

Looking for some holiday reading? Check out the December 2024 issue of Climate Pension Quarterly, Shift’s quarterly newsletter that summarizes the Canadian and global pension news we’re tracking related to #climaterisk and #fossilfuels. #cdnpoli static1.squarespace.com/stat…

5/ This is despite scientific consensus that fossil fuel expansion must immediately stop and oil and gas rapidly phased out. Many of Canada's largest pension funds are invested in spite of Cenovus' ongoing plans to expand offshore oil.