CPPIB flexes its muscle in board rooms around the world to stem climate change

The Canada Pension Plan Investment Board used its influence as a major institutional investor to push 35 companies to make "material" commitments and improvements to climate-related disclosures and practices in the past year.

The report said that officials at Canada's largest pension voted against 65 directors at 35 companies because they didn't think the board adequately considered the effects of climate change.

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Climate-related shareholder proposals that sought deeper disclosures on topics such as operational emissions management, asset portfolio resilience and public policy were voted in by the Canada Pension Plan Investment Board.

The approach with public companies in the portfolio is to articulate clearly how the Canadian pension believessustainability-related factors should be integrated to inform strategy and enhance returns.

He said that they seek solutions to reduce or capture their potential within portfolio companies and align incentives.

South Africa and New Zealand were added to the voting practices of the Canadian pension.

In the next few years, we expect to apply a 30 percent threshold to more countries and markets.

According to the report, sustainable investing means following the objectives set out in its governing legislation against the backdrop of escalating climate risk for the Canada Pension Plan Investment Board.

"Maximizing the long-term value of a business today requires boards and executives to anticipate and manage a highly dynamic environment." The retirement savings of the nation's workforce can be protected.

The portfolio and operations of the Canada Pension Plan Investment Board will be net zero of greenhouse gas emissions by the year 2020. Pension management officials said on Wednesday that they will continue to invest in companies that are driving and demonstrating carbon-reduction innovations and practices that will lead to enhanced risk-adjusted returns.

When Graham took over as CEO of the Canada Pension Plan Investment Board last year, he said that he had no plans to institute a blanket Divestment of Oil and Gas Assets during his tenure because he believed science would find solutions to many of the issues that have made environmentalists and some investors

In April 2021, he stated that there are "incredibly bright, talented" scientists and engineers in the oil and gas industry.

All of Quebec's oil production assets will be sold by the end of the year. The assets were worth $3.9 billion when they were announced.

The email is bshecter@postmedia.

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