The Ontario Teachers’ Pension Plan Board said it will cut carbon emissions in its portfolio by 45 per cent from its 2019 baseline levels by 2025 and 67 per cent by 2030. The fund said the targets apply to its real assets, private natural resources, equity and corporate credit holdings across public and private markets. (The Logic)

Talking point: OTPP—which manages $227.7 billion in assets—initially pledged in January that it would reach net-zero by 2050, though it didn’t disclose how it planned to get there. It now says it will “significantly [grow] investments” in clean energy and transition assets and set “portfolio companies on a clear path to implement Paris-aligned net-zero plans and meaningfully reduce emissions.” The pension fund is among the droves of institutional investors that have pledged net-zero targets in recent months, amid growing pressure from regulators worldwide. Non-profit Shift Action said in a statement that OTPP’s plan is “the strongest climate commitment we’ve seen yet from a Canadian pension fund.” The organization’s executive director told The Logic last week that pensions aren’t doing enough on their own to reach net-zero goals and hopes the next government will change policy to work sustainable finance into their mandates. Meanwhile, a new UN analysis of 191 countries found most are not on track to reach net-zero by 2050, despite pledges.