Divesting – Benefits Canada.com

Norway pension fund divesting from companies tied to weapon production

Jennifer Paterson — Thu, 04 Nov 2021 14:00:30 +0000

Norway’s largest pension fund is divesting from 14 companies involved in producing nuclear missiles and other weapons. Oslo-based KLP, which manages more than 300 billion kroner (US$35.4 billion), said it made the decision after reviewing companies that may violate its guidelines on weapons. “Those excluded are mainly companies that directly or indirectly contribute to the continuing […]

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AIMCo won’t divest from hydrocarbons, says CEO

Gideon Scanlon — Tue, 19 Oct 2021 17:00:40 +0000

In his first public statement on Alberta Investment Management Corp.’s investment strategy, the organization’s new chief executive officer says the AIMCo won’t have a policy to divest from hydrocarbon producers. “I want to be clear in stating that we believe that divesting hydrocarbons would miss an urgent opportunity to work with the companies who’ve the […]

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New York City pension funds divesting $4BN from fossil fuels

mschmit — Wed, 27 Jan 2021 11:00:53 +0000

Two pension funds for New York City workers are pulling an estimated US$4 billion in investments from fossil-fuel companies in order to promote clean-energy use. Mayor Bill De Blasio and Scott Stringer, the city’s comptroller, announced Monday that the boards of the $91.4-billion New York City Employees’ Retirement System and the $77.4-billion New York City […]

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Ontario Teachers’ committing to net-zero emissions by 2050

mschmit — Fri, 22 Jan 2021 11:00:12 +0000

The Ontario Teachers’ Pension Plan is committing to achieving net-zero greenhouse gas emissions by 2050. The commitment includes the establishment of concrete targets for portfolio emissions as well as increased investments in climate solutions, according to a press release, which noted the Ontario Teachers’ will also ensure portfolio companies manage and report their emissions annually. […]

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Ontario Teachers’ facing pressure to divest from fossil fuels

mschmit — Fri, 08 Jan 2021 05:15:24 +0000

An environmental coalition is appealing to Ontario teachers to pressure their pension fund to divest from companies that develop or transport fossil fuel products. In a four-minute YouTube video, a group of students from across Ontario read a letter to their teachers, asking them to push the Ontario Teachers’ Pension Plan to stop investing their […]

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Bâtirente sets new climate commitment for 2025

mschmit — Thu, 10 Sep 2020 05:00:35 +0000

Acknowledging that the multi-faceted causes and consequences of climate change call for different methods, Quebec-based pension fund Bâtirente is publishing a new climate commitment. “Effectively supporting the transition to an economy that is aligned with the objectives of the Paris [Agreement] requires a multi-dimensional approach,” said Daniel Simard, the pension fund’s chief executive officer, in […]

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Head to head: Is carbon divestment becoming obligatory for pension plans?

mschmit — Fri, 17 Apr 2020 04:59:58 +0000

Globally, many pension funds are divesting from carbon and fossil fuels, while others are staying the course and focusing on financial value and their fiduciary duties Simon Archer, partner at Goldblatt Partners LLP and co-director of Osgoode Hall Law School’s Centre for Comparative Research in Law and Political Economy: Political posturing aside, no one seriously […]

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NYC hiring advisors to create divestment plans for its pension funds

mschmit — Fri, 31 Jan 2020 04:53:32 +0000

New York City is taking major steps toward divesting from fossil fuels by hiring investment advisors to review three of its pension plans and make recommendations about divestment. Combined, the three plans have more than $155 billion in assets under management, of which about $3 billion is invested in fossil fuel reserve owners’ securities. The […]

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Norway’s largest pension fund divesting from Canadian oil sands

mschmit — Mon, 07 Oct 2019 12:45:37 +0000

Norway’s largest pension fund, Kommunal Landspensjonskasse, is divesting its holdings in five oil sands companies, four of which were Canadian. KLP’s stake in Canadian firms Cenovus Energy Inc., Husky Energy Inc., Imperial Oil Ltd., Suncor Energy Inc. and Russian company Tatneft PAO was a combined US$58 million, with US$33 million in equity and US$25 million in bonds. […]

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University of California pension fund to dump fossil fuel investments

mschmit — Wed, 18 Sep 2019 11:15:12 +0000

The University of California is dumping fossil fuel investments from its nearly $84 billion pension and endowment funds, calling them a financial risk. An opinion article in Tuesday’s Los Angeles Times says the university will make its endowment fund “fossil free” by month’s end and its pension fund, which covers 320,000 people, will soon follow. Read: Divesting from […]

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