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Canada is burning, so why is our national pension fund still heavily into fossil fuels?
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this post was submitted on 28 Aug 2023
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Because that's where the money is, and a pension fund's one and only job is to make money.
Fossil fuels make money, but so do renewables and a lot of other companies, which use energy much less directly. The issue is that a national pension fund is a government institution and the Canadian government gets a very real conflict of intresst between fighting climate change and paying pensions. So it is much better to invest in other fields. It does not have to be renewables.