Canada’s largest pension manager ‘backsliding’ on climate, risks being unable to pay out pensions: report

Last year, the Canada Pension Plan Investment Board invested $7.1-billion in new fossil fuel assets and ‘quietly removed’ its public net-zero commitment, which Senator Rosa Galvez says means 'Canadian pensions are gambling with the retirement of millions of Canadians.'

Finance Minister François-Philippe Champagne. The Canada Pension Plan Investment Board’s board of directors, who dictate the fund's investments, are governor-in-council appointments made on the recommendation of the finance minister. The Hill Times photograph by Andrew Meade

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BY ELEANOR WAND

January 30, 2026

A new report says the Canada Pension Plan Investment Board is back tracking on its climate commitments and investing in fossil fuel energy projects that could render it unable to pay out future pensions, in a move one Senator warns amounts to "gambling" with Canadians' retir...

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