To: Canada Pension Plan Investment Board
Tell the Canada Pension Plan to stop investing in fossil fuel expansion
Shift | Action for Pension Wealth and Planet Health
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Stop investing our money in fossil fuel expansion and instead use Canada’s national retirement fund to invest in climate solutions.
Why is this important?
The Canada Pension Plan Investment Board (CPPIB) is one of the largest investment funds in the world and manages nearly $650 billion in retirement savings on behalf of over 22 million hard-working Canadians.
But rather than using that enormous financial power to lead the transition away from fossil fuels that scientists and world leaders agree is essential – CPPIB continues to invest in fossil fuel expansion.
The science is clear that avoiding catastrophic climate outcomes requires an immediate end to fossil fuel expansion and rapid-phase out of oil, gas and coal. That’s why in 2022 CPPIB committed to achieve net-zero emissions by 2050.
But CPPIB is continuing to invest our retirement dollars in oil and gas infrastructure and the companies fueling the climate crisis – in October 2024, CPPIB disclosed it holds $23 billion in fossil fuel production assets, while in 2024, CPPIB made six new investments in fossil fuels. For more information read Shift’s CPPIB Watch here.
CPPIB’s board of directors also has a potential conflict of interest problem: three of the 11 members of CPPIB’s Board of Directors are also executives or directors of fossil fuel companies.
The Canada Pension Plan is our money. CPPIB owes all of us a duty to maximize our returns without undue risk of loss. Fossil fuel expansion simply cannot be a responsible investment, with the high risk of assets becoming stranded as the global economy moves away from fossil fuels. Expanding and prolonging the use of oil, gas and coal locks in more carbon pollution for decades to come, increasing the risk of catastrophic climate outcomes that destabilize our communities, economies and ecosystems.
Take action now.
But rather than using that enormous financial power to lead the transition away from fossil fuels that scientists and world leaders agree is essential – CPPIB continues to invest in fossil fuel expansion.
The science is clear that avoiding catastrophic climate outcomes requires an immediate end to fossil fuel expansion and rapid-phase out of oil, gas and coal. That’s why in 2022 CPPIB committed to achieve net-zero emissions by 2050.
But CPPIB is continuing to invest our retirement dollars in oil and gas infrastructure and the companies fueling the climate crisis – in October 2024, CPPIB disclosed it holds $23 billion in fossil fuel production assets, while in 2024, CPPIB made six new investments in fossil fuels. For more information read Shift’s CPPIB Watch here.
CPPIB’s board of directors also has a potential conflict of interest problem: three of the 11 members of CPPIB’s Board of Directors are also executives or directors of fossil fuel companies.
The Canada Pension Plan is our money. CPPIB owes all of us a duty to maximize our returns without undue risk of loss. Fossil fuel expansion simply cannot be a responsible investment, with the high risk of assets becoming stranded as the global economy moves away from fossil fuels. Expanding and prolonging the use of oil, gas and coal locks in more carbon pollution for decades to come, increasing the risk of catastrophic climate outcomes that destabilize our communities, economies and ecosystems.
Take action now.