The Canada Pension Plan Investment Board is merging its “power and renewables” and “energy and resources” investment groups to create the sustainable energy group (SEG). The group has about $18 billion in assets and will focus on renewable energy, as well as traditional energy assets and cleantech innovations. (The Logic)
Talking point: Deborah Orida, senior managing director and global head of real assets at the pension fund, said combining the two energy-related groups is meant to address the increasing overlap and opportunities between the categories. “For example, in our traditional energy and resources group, we have started doing some investing in technologies that help traditional energy companies become more sustainable,” she said. “The energy evolution and climate change are going to create opportunities all across the value chain … so we’re creating one bigger team that will have the flexibility to invest across the spectrum of capital around the world and work together.” Despite the group’s name, Orida noted that not all SEG assets will necessarily count toward CPP Investments’ tally of sustainable investments.