Canada’s biggest public pensions heavily investing in fossil fuels, new report suggests


Pension funds say oil and gas investments can be leveraged in transition to cleaner energy. Canada’s biggest public pensions continue to invest heavily in fossil fuels despite rising concerns about climate change, according to a new report. The Canada Pension Plan’s (CPP Investments) total fossil fuel investments across its entire portfolio have increased from $9.9 billion in 2016 to $11.6 billion in 2020, according to the report by Canadian Centre for Policy Alternatives, a left-leaning research group. In the report, the researchers noted that they did not know where and how all the investments had been allocated, and instead focused on the changes in the number of shares invested in oil and gas. The researchers found that the number of shares in companies involved in oil and gas held by the CPP by the end of 2020 was 7.7 per cent higher than at the beginning of 2016.

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