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, there is increasing pressure to adopt standardized emissions metrics and interim targets, many of which don’t reflect the complexity of a global investment portfolio like ours,” the pension fund said.
The pension fund’s board did not explain what recent legal developments it was referring to, and had not responded to The Epoch Times’ request for comment by publication time….