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Bringing together and educating Canadian pension fund savers, leaders, and influencers to minimize climate risks and tap opportunities in a low-carbon economy.
Shift: action for pension wealth and planet health is a new Canadian initiative that brings together and educates pension fund savers, leaders, and influencers with a goal to shift investment policies, priorities, and practices to minimize climate risks and tap opportunities in the low-carbon economy.
Canadian pension funds manage over $1.5 trillion, making them one of the five largest pools of capital in the world. Large assets of this size can have serious implications for the climate and the transition to a more sustainable economy. While Canadian funds are known for world-class governance, the sector could show more leadership when it comes to disclosing and managing climate risks.
The Shift model is inspired by ShareAction, a successful UK-based organization. Shift will support savers, engage influencers, create dialogue, and raise awareness to ensure pension funds reduce their climate risks and impact while maintaining performance. Because funds have an obligation to their savers, they are well positioned to push for action that protects both the climate and their pensions.
This is an important moment. La Caisse de dépôt et placement du Québec, Canada’s second largest pension fund, recently released a bold climate plan generating momentum Shift can build upon.
Shift initially aims to see at least five pension funds implement meaningful changes in their policies and portfolios. The short-term push is for greater disclosure of climate-related financial risks, while the longer-term goal is a shift from high-carbon to low-carbon investments.
Shift has attracted an esteemed group of advisors to inform its strategy, including pension fund experts Doug Pearce, the former CEO of the British Columbia Investment Management Corporation, and Keith Ambachtsheer, the President of KPA Advisory Services.
For more information please contact our Director Jordy Gold at Jordy [at] ShiftAction [dot] ca.