TORONTO – The Ontario Teachers’ Pension Plan Board says it’s moving away from an emissions intensity target for its portfolio to instead focus on climate investment goals.
In its new 2030 target, the pension board says it’s aiming to double what it calls “climate transition aligned” private investments to $70 billion.
It says it will retire its 2030 goal of a 67 per cent reduction in the carbon emissions intensity of its portfolio compared with a 2019 baseline.
OTPP says it has already achieved its interim goal of a 50 per cent intensity reduction, so it’s shifting focus to investments aligned with a net-zero future.
The pension board says emissions intensity remains useful for company comparisons, but not for measuring real-world progress on the energy transition.
It says its climate strategy is focused on investing in direct climate solutions like emissions reductions and managing risks, as well as working with portfolio companies to advance decarbonization plans.
Jo Taylor, chief executive of OTPP, says addressing the material risks and opportunities of climate change is part of the pension’s mission in delivering retirement security to members.
“Our climate strategy recognizes that the world’s shift to cleaner energy is underway and represents a generational investment opportunity that stands to reshape economies” said Taylor in a news release.
The defined benefit pension plan had net assets of about $270 billion as of June 30, 2025, which it manages on behalf of some 343,000 working members and pensioners.
This report by The Canadian Press was first published Feb. 19, 2026.
