Canada’s second-largest pension fund has made big changes.
"Canada’s second-largest pension fund has made big changes. The result? New investments in coal or oil companies are very unlikely
"As world leaders converge at this week’s climate summit in Madrid to debate how best to shift to a net zero-economy, Michael Sabia is leaving the helm of Canada’s second-largest pension plan having firmly placed Quebec’s retirement savings at the forefront of the global movement for low-carbon investing.
Sabia, who recently announced he’s stepping down from the Caisse de dépôt et placement du Québec (CDPQ) in early 2020, ushered in a fundamental change in how the $326 billion Quebec pension fund treats the climate-related risks and opportunities that are embedded in the 21st-century global economy.
In doing so, CDPQ is challenging the traditional view of pension managers and other institutional investors."