ECONOMIC RECOVERY The economic recovery from the pandemic presents a unique opportunity to break Canada’s weak track record on innovation through inclusive growth. Canada performs poorly on business investment in R&D, technology adoption, productivity and patent generation and protection, and our record on inclusion and equity is poor, write Dan Breznitz and Daniel Munro. But we…
Topic: divestment from fossil fuels
Volatility in the oil market is shifting the financial calculus for institutional investors, for whom renewable projects are starting to look more and more like the safer bet.
A growing number of Canadian universities, including some of the country’s largest, are significantly reducing the industrial carbon in their investment portfolios, a R$ survey shows. Less than a handful of universities are divesting specifically from fossil fuel holdings, but many schools also are using a “responsible investing” approach which considers environmental, social and governance factors.
The Canada Pension Plan Investment Board, which manages the CPP’s $420-billion portfolio, should immediately divest from all fossil fuel holdings in response to the climate emergency and to reduce financial risk for current and future CPP recipients, says the lead author of a Canadian Centre for Policy Alternatives report.