Beneficiaries of Canada’s 10 largest pension funds—including the Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan and Alberta Investment Management Corporation—sent the firms letters calling for a plan to meet their fiduciary duty to address the climate crisis and for more transparency around their fossil-fuel investments. The letters, coordinated by Shift Action, Ecojustice and Environmental Defence, were signed by retirees, students, teachers and elected officials, among others. (The Logic)

Talking point: A group of young CPP Investments beneficiaries set to retire after 2050 raised concern in their letter about how the fund is “ensuring intergenerational equity and the security of our retirement benefits in a future that requires rapid decarbonization.” The letter echoes those sent to other pensions calling for clear emissions-reduction targets and consequences, including divestment, for portfolio companies that don’t have credible plans to meet Paris Agreement goals. The letters come one day after the Caisse de dépôt et placement du Québec announced plans to divest from oil production and exploration—the first investor in Canada to do so—and promised to substantially reduce its emissions intensity.