Quebec Pension Fund to Divest Oil Assets

摘要

Canada's No. 2 pension fund, Caisse de depot et placement du Quebec, said Tuesday it will shed all of its oil production assets, valued at C$3.9 billion (US$3.08 billion), by the end of 2022 and reduce carbon intensity by 60 by 2030. It said it would be the Orst institutional investor in Canada to exit oil production assets. As part of a plan to reach net-zero carbon emissions by 2050, Montreal-based Caisse plans to hold green assets worth C$54 billion by 2025 and dedicate C$10 billion to decarbonize carbon-emitting sectors.