🌏Shift's director Adam Scott tells the Wall Street Journal that recent climate policy reversals contradict almost a decade of Mark Carney's climate advocacy. 🔗https://www.wsj.com/world/americas/mark-carneys-shift-from-climate-change-warrior-to-fossil-fuel-cheerleader-97d17782 (paywalled)

📉 This week’s Canada Pension Plan climate update: CPPIB is still pouring billions into fossil fuels—despite a year of record heat. Let’s break it down. 🧵

👋 Come say hi! Shift’s Senior Manager Laura McGrath will be speaking about climate change and healthcare pensions this Friday during Toronto Climate Week. greenhealthcare.ca/tocw-2025/ #TorontoClimateWeek #planetaryhealth

⚡ Quebec's pension fund Le Caisse is acquiring Australia’s @Edify Energy for $1 billion. 🐨 Edify combines utility-scale solar generation with battery storage. 🏆 This is a smart financial play that will also accelerate the energy transition. 🔗Read more: www.theglobeandmail.com/business/art...

Highlights from the Public Sector Pension Investment Board (PSP)'s 2025 climate disclosures 👀 ✅ Progress toward 2026 targets ✅ More green assets ✅ Less exposure to carbon-intensive assets 🤨 5 board members with climate expertise–one also sits on Imperial Oil’s board. 🙄 🔗 PSP’s report

This summer of record wildfires and heat, Canada Pension Plan Investment Board (CPPIB) is doubling down on fossil fuels. Despite a mandate to manage Canadians’ retirement savings “without undue risk of loss,” it’s investing in assets tied to climate failure. #CPPIBWatch

The new Building Canada Act (in Bill C-5) gives Cabinet power to fast-track projects they designate as serving the “national interest”.     Now, Cabinet will decide the criteria that a project must meet to be deemed in the "national interest".

🚨 Data centres want to connect up to 2.5 gigawatts (GW) of new fossil fuel capacity to the UK’s's gas transmission network– which is 28% owned by BC’s public pension manager. www.ft.com/content/7540...

1/ Canadians might be angry to learn that an LNG terminal in Louisiana backed by $100 million from the Canada Pension Plan has been approved, “advancing President Trump’s energy dominance agenda.” #cdnpoli #uspolitics #LNG www.offshore-technology.com/news/us-doe-...

“Many of Canada’s largest pensions are sleepwalking into a #climatecrisis with existential consequences for their members. The Chief Actuary needs to do its job by ensuring its statutory actuarial valuations of federal plans and programs actually reflect the reality of these risks.” #cdnpoli

The Office of the Chief Actuary is severely underestimating the systemic financial risks of climate change to pension plans and failing to assess the cascading economic and financial impacts of a rapidly warming world. Read our letter to the OCA. #cdnpoli www.shiftaction.ca/news/2025/8/...

Last week, OMERS participated in another round of investment for Group14, which manufactures silicon battery material for use in electric vehicles and consumer electronics. #onpoli #cdnpoli www.koreaherald.com/article/1055... 💲 OMERS has committed to reach $30 billion in green investments by 2030.

1/ The feds will soon name new directors to the Canada Pension Plan Investment Board. #cdnpoli Our $732bn pension is still fossil-entangled. 3 of 10 directors are tied to oil & gas companies. Canadians need climate experts– not #fossilfuel interests– on the board. www.hilltimes.com/story/2025/0...

Amidst another summer of heatwaves, droughts & wildfires, CPPIB made a bizarre decision to profile its investment in an oil & gas company whose business model is fundamentally incompatible with the long-term retirement security of Canadians. #cdnpoli #fossilfuels www.shiftaction.ca/news/2025/8/...

🛢 As Canadians swelter through another summer of heatwaves, drought and wildfires, the Canada Pension Plan is investing our money in the #fossilfuels driving the #climatecrisis. 📜 Check out our new summary breaking down CPP's private fossil fuel assets. #cdnpoli www.shiftaction.ca/cppib-fossil...

“His book warns that new investments in fossil infrastructure risk becoming ‘stranded assets’” - Shawn McCarthy’s op-ed in The Hill Times tries to remind the prime minister of what he wrote in his book Value(s). Read the op-ed here: www.hilltimes.com/story/2025/0...

Canadian pension funds are already using the ‪Science-Based Targets initiative to inform their climate strategies. Will they hold themselves to the new SBTi standard for financial institutions- which calls for an end to financing #fossilfuel expansion? #cdnpoli www.shiftaction.ca/news/2025/81...

⚠️ The federal government’s rush to approve infrastructure projects is alienating Indigenous nations. ⚡ But Indigenous nations have been willing partners on 600 clean energy projects across Canada. 🔗 From James Jenkins at Indigenous Clean Energy:

The insurance industry is sounding the alarm about the growing financial risks of the #climatecrisis, with big implications for pension funds. If we fail to limit global heating to safe levels, it could become impossible for pensions to fulfill their mandate. #cdnpoli

As BC healthcare workers, we demand that the Municipal Pension Plan stop risking our retirement savings on the oil, gas and coal companies that are harming our health and fueling the climate crisis, write Agnes Black, Caroline Murphy and Betty Tate www.nationalobserver.com/2025/08/12/o...

🧑‍⚖️ The International Court of Justice has ruled that countries that continue to support fossil fuel production could be ordered to pay billions in compensation. 🏝️ Low-lying island nations have warned that their existence is in jeopardy due to rising sea levels. 🔗Read @carbonbrief.org's explainer

📉 This week’s Canada Pension Plan Climate Update: CPPIB (@cppinvestments) continues to back companies harming the planet – and risking our pensions. Recent scandals show CPPIB’s ESG claims aren’t holding up. 🧵 #ClimateFinance #Pensions

Ontario's University Pension Plan is following through on its Climate Stewardship Plan commitments. Last week the fund announced it was filing a shareholder proposal at Alimentation Couche-Tard, a QC-based company operating 16,000+ convenience stores, demanding a credible emissions reduction plan.

Healthcare organizations are breaking ties with fossil fuels and the companies that do business with them. Healthcare pensions, take note! #cdnpoli #onpoli #ONhealth @cape-acme.bsky.social @rnao.ca

✨ Energized after a powerful few days at our Shift team offsite in Ottawa! Grateful for the space to reflect, align, and think big–from Bill C-5 to Indigenous rights to reimagining our Pension Climate Report Card. We’re leaving focused, inspired, and ready for what’s next. 🚀🌍

Following its #divestment of fossil fuel producers, the New York City #pensions system is more than doubling its target for investments in climate solutions and developing a policy to exclude midstream and downstream fossil fuel infrastructure. #nyleg

Fossil fuel companies, inc. Enbridge, reportedly pressured @sciencebasedtargets.org (SBTi) to pause its #netzero standard for the oil & gas industry. Why? B/c a safe climate requires an end to oil & gas expansion, but the oil & gas industry won’t accept this. #climaterisk #cdnpoli

🔍 BCI just released its 2024–25 Annual Report. While there are bright spots, BC’s $233B pension manager still refuses to commit to net-zero by 2050 — putting 778K members’ retirement security at climate risk. 🔗 Full analysis: www.shiftaction.ca/news/2025/7/...

🚨 The world’s largest sovereign wealth fund is warning that economic models commonly used by pension funds, including the Canada Pension Plan Investment Board, massively underestimate the likely damage to investment portfolios from climate change and its impacts. #cdnpoli #climaterisk

In AIMCo's 2024 annual report, the word “climate” doesn’t appear once. That’s a red flag. Every major Canadian pension fund has recognized climate change as a financial risk—AIMCo now seems to be backing away from that basic fact. 🧵

📉 CPP Investments funds both progress and pollution. In 2023, CPPIB invested $500M in Octopus Energy — the UK’s top renewable supplier. But it's also backing Quantum Capital, whose oil & gas operations cause $2.5 billion a year in U.S. health damages. www.cppinvestments.com/insight-inst...

🔥Canada is in the midst of one of the most destructive wildfire seasons in recent decades. Smoke from the Prairies has prompted air quality warnings in Ontario and Quebec, thousands of kilometres away.

When we brought a climate proposal to Brookfield’s AGM in June, only one Canadian pension fund voted for it. The rest backed greenwash and gas. Here’s what happened—and why it matters. ⬇️

ICYMI: Just before the long weekend, Shift released a new report on fossil fuel entanglements at Canada’s public pension funds. 🛢️ 30% of @cppinvestments board members have fossil fuel ties 🛢️ 5 of 11 major pension funds include oil & gas directors 🔗 www.shiftaction.ca/entrenched-i...

🔥 As Ontario bakes in a dangerous heatwave, the pension fund for 343,000 teachers is tied to a Texas fracking company. OTPP is backing Aethon Energy—drilling 500+ wells and doubling down on fossil fuels. So much for a “safe climate future.” 🔗 finance.yahoo.com/news/risk-hi...

🔍 The Ontario Teachers' Pension Plan manages $266B for 343,000+ teachers. But 2 of its 10 directors also sit on boards of 5 oil & gas companies—posing serious conflict of interest risks. How does this square with OTPP’s climate commitments? #OTPP #ClimateAction

🌍 There is no retirement security without a safe climate to retire into. Pension funds may be unable to fulfill their mandate if we fail to limit global warming. That means rapidly phasing out fossil fuels and accelerating investment in renewables and electrification.

📸 Behind every pension board decision are real people like Marcus (Canada Pension Plan) & Kathy (Ontario Teachers Pension Plan). Both are raising red flags about fossil fuel ties on the boards of Canada’s biggest pension funds – and how those ties could threaten both pensions & the planet. 🌍

🌳 The $9.5T Net Zero Asset Owner Alliance has launched an action plan to phase out deforestation exposure. Members are urged to assess human rights risks & engage with governments and companies to stop forest loss.

Investors need climate info! Some pension managers are finally holding oil & gas companies accountable for cutting climate disclosures—but most still think engagement works. It doesn’t. We took a look ➡️

🚨 New report: Entrenched Interests exposes fossil fuel ties on the boards of 5 major Canadian public pension funds – including CPPIB, OTPP, AIMCo, PSP & OMERS. These links pose serious governance risks. #ClimateRisk #Pensions #cdnpoli

New research finds limiting oil & gas development in Canada won’t harm the sector—in fact it could protect its value. With 🌎 oil & gas demand heading toward permanent decline, 🇨🇦 should limit expansion to ⬇️ economic risks. 📗@IISD_Energy, @envirodefence: www.iisd.org/publications...

Oregon just passed the Climate Resilient Investment Act! 🌍💰 The $101B public pension fund will cut its carbon footprint, assess fossil fuel risks, and invest in clean energy. A win for workers, climate and future returns. #ClimateAction #Pensions #Oregon

A company owned by @OMERS + @IMCO is locking in 15–20 year aviation fuel contracts. That’s a risky long-term bet on a fossil fuel industry set for disruption. How does this square with their net-zero commitments? 🤔 See Shift’s June Climate Pension Quarterly #CDNpensions #ClimateAction

BREAKING! The 16th #BankingOnClimateChaos reveals that fossil fuel financing from the world’s top 65 banks has reached $7.9 TRILLION since 2016. See how your bank is using your money at bankingonclimatechaos.org #DefundClimateChaos #BOCC

🧾 A new white paper from @sierraclub.org urges institutional investors—like pension funds—to rethink climate-conscious investing. Climate change is a systemic financial threat to the economy and long-term returns.

UPP’s 2024 report confirms real climate leadership: reaffirmed net-zero by 2040, a 59% drop in emissions intensity, $650M committed to climate investments, and 100% pro-climate shareholder votes. That’s what leadership looks like from a pension fund. #ShiftUPP

In May CPPIB ditched its net-zero by 2050 target — but Shift has shown for years that its fossil fuel investments were never compatible with climate goals. From fracking to new gas pipelines, CPPIB continues to fund climate breakdown.

Today is the Brookfield AGM—one of the world’s largest asset managers. We partnered with @investors4paris.bsky.social to file a shareholder resolution urging Brookfield to take climate accountability seriously + stop our pension funds financing fossil gas in its so-called “transition” funds.

Last week, the Canada Pension Plan Investment Board (CPPIB) announced the sale of its entire 98% ownership stake in Encino Acquisition Partners (Encino), one of the largest oil and gas producers in Ohio. Shift’s Senior Manager Patrick DeRochie answered questions from Pensions & Investments: