The Canada Pension Plan Investment Board (CPPIB) has increased its commitments to global renewable energy companies by 100-fold in the past three years, the organization revealed in a statement announcing its newly released 2019 Report on Sustainable Investing.
The report outlines the organization’s approach to environmental, social and governance (ESG) factors, specifically tackling topics such as climate change and board diversity.
“Our climate change work, investments in renewable energy, and actions to improve board diversity are just some of the activities we undertake to help encourage positive change and improve long-term investment returns for the Canadian workers and retirees we serve,” said Richard Manley, managing director, head of sustainable investing at CPPIB.
CPPIB said it has invested $3 billion in renewable companies around the world as of June 30, up from $30 million in 2016. Its partners include Alberta’ Enbridge Inc., India