CDPQ Leans on Investment Companies

Posted on 05/03/2023

Caisse de dépôt et placement du Québec (CDPQ) says it is on track to reach a net-zero carbon emission portfolio by 2050, and is pursuing ESG goals. CDPQ put out a statement listing several highlights of its plans. It has US$ 47 billion in low-carbon assets, including US$ 12 billion in Québec, which represents a global increase of US$ 29 billion in low-carbon assets since 2017. In all, 52% of its actively managed public companies have at least 30% of women on their Boards of Directors, an increase of more than 27% in two years. CDPQ has achieved a 53% reduction in the carbon intensity of the portfolio since 2017. It has also raised awareness of ESG issues for 175 portfolio companies and 63 external managers, using its voting rights to vote on 54,337 resolutions at 5,537 shareholder meetings. CDPQ has nearly divested from oil producers in its portfolio.

A statement from CDPQ read in part: “We invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2022, CDPQ’s net assets totalled CA$ 402 billion.”

Charles Emond, President and Chief Executive Officer of CDPQ, pointed out his plans to move the fund further in this direction: “Every day, our approach is guided by our responsibility towards the six million Quebecers who entrust us with their savings. CDPQ uses its constructive capital to take meaningful action for current and future generations. Recognized here and internationally, this leadership in sustainable investment is our pride.”

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