Canada is a petrostate after all.

Yeah. They've all given up at this point. We're not going to see the next century, folks.

Dropping environmental concerns from a pension profile has got to be the worst sort of irony. What good is retiring with slightly more money if the world you're retiring into is literally on fire?

They have a fiduciary duty, and no economist who holds themselves to a high standard believes in peak oil, its a fairy tale created by politicians.

There are billions of people on the planet who will take every molecule of energy you produce, Chinas now literally stockpiling coal.

"Recent legal developments in Canada have introduced, kind of, new considerations around how net-zero commitments are interpreted, so that's caused us to change a little bit how we talk about it, but nothing's changed on what we're actually doing."

I wonder if buddy intended his statement to have that double meaning.

The comments by Graham came as the fund reported a net return of 9.3 per cent for its latest fiscal year, falling short of its benchmark portfolios' return of 10.9 per cent.

clearly the net zero commitment was the cause /s

Maybe I'm missing the article, but I think this is overblown. What's changed is that financial firms can no longer make unsubstantiated claims about climate action, but the burden to do so opens them up to potential liability with no task upside. Hey even said that literally nothing has changed with how they plan to invest, but they don't want to make a claim that they can't support with strong evidence.

This makes sense. And it's not a big deal.

Or that's my reading of it, anyway.

IMO this is fine, it's not really a pension plan's role to be trying to manipulate what industries are doing well. A pension plan should be primarily focused on getting good long-term returns.

If you want that to not happen then you should focus on policies that make carbon-producing industries not produce good long-term returns in the first place. Then the pension plans and everyone else will stop investing in them as a natural consequence.

If they remain profitable and your pension plan stops investing in them, that just means you're handing free money to the people who remain willing to invest in them.

Tough call on this one.

Net neutral is essential but so is a strong retirement safety net. With demographic decline, increasing lifespans and whatever other fun the world throws our way in the next while... Well, you want that bad boy maxed out.

I'm also super curious how some of the cop's investments are classified. If memory serves, it owns a chunk of highways and airports so how are those calculated in terms of carbon?