A report from the Coalition Sortons la Caisse du carbon and the David Suzuki Foundation says the Caisse de dépôt et placement du Québec’s “very significant” selloff of shares in high-emissions sectors between 2018 and 2019 has resulted in an overall decrease in the value of its fossil-fuel portfolio. Should it continue shedding its oil and gas interests at that rate, the public pension manager, which oversees more than $340 billion, will have divested itself of all fossil-fuel investments in five years, according to the report. (The Logic)
Talking point: There was a “spectacular” 42.5 per cent reduction in the value of the Caisse’s oilsands portfolio, due in large part to the manager’s selloff of its interests in the sector, the report reads. It is indicative of the Caisse’s accelerated exit from oil and gas investment; its previous administration had pledged only to reduce its fossil-fuel investments by 25 per cent by 2025.