Caisse to sell off remaining oil assets by next year
CBC
Caisse de dépôt et placement du Québec says it will divest all of its oil investments by next year as part of the pension plan's plan to help combat climate change by cutting its carbon footprint in half by 2030.
The province's public pension fund unveiled its climate change strategy on Tuesday.
A core plank of the policy is to divest all assets that produce crude oil products by the end of 2022.
"The climate situation affects everyone, and we can no longer address it with the same methods used a few years ago," CEO Charles Emond said. "We have to make important decisions on issues such as oil production and decarbonizing sectors that are essential to our economies."
The pension plan has been selling off assets in the oil sector, but the declaration means it will move ahead with selling off what it has left — currently about one per cent of its total portfolio of $390 billion.
The fund also says it will move its oil money to other investments, with a view to buying up $54 billion in "green assets" by 2025.
Overall, the pension fund says it plans to reduce its total carbon footprint by 60 per cent by 2030.
When the government touts that its auto insurance reforms might curb premiums by $400 come 2027, the ministers and premier don't readily mention what's to come in the three years leading up to that.
Who poses the greater threat to the free speech of Conservative MPs — the Speaker of the House of Commons or the leader of the Conservative Party?
As city council prepares to vote on a temporary shelter village for people experiencing homelessness in Thunder Bay, Ont., opposition is growing among the area's business community.
A Toronto centre for Black art is hosting an exhibition this weekend that exclusively features work by artists from across the African diaspora.
Click on the video player above on Saturday beginning at 1 p.m. ET to watch the 2024 Vanier Cup.
This story is part of CBC Health's Second Opinion, a weekly analysis of health and medical science news emailed to subscribers on Saturday mornings. If you haven't subscribed yet, you can do that by clicking here.
Some Canadian seniors say they're feeling abandoned by the Liberal government's latest inflation relief measure after learning they don't qualify for it.
WARNING: This article may affect those who have experienced sexual violence or know someone affected by it.
The weather has certainly been gloomy, damp and windy over the past 10 days in Nova Scotia and it's going to continue this weekend.
Premier Susan Holt says the federal tax holiday on some goods announced Thursday could cost New Brunswick $62 million in revenue.
Thousands in Quebec's Montérégie region will not get their flu and COVID-19 vaccine directly at their seniors' residence anymore.