Alternative Investments/ESG: Healthcare Of Ontario Pension Plan (HOOPP) Unveils Climate Plan For Achieving Net Zero In Its Portfolio By 2050

HOOPP plans to deploy US$17 billion in green investments by 2030.

The Healthcare of Ontario Pension Plan (HOOPP) plans to invest nearly US$17 billion in green investments by 2030 to reduce the carbon footprint of its portfolio, as part of its strategy to achieve net-zero greenhouse gas emissions by 2050. (CIO)

By 2025, the C$103 billion Canadian pension fund intends to have 80% of its assets report emissions and refrain from making new direct investments in thermal coal and oil exploration and production companies. The fund is also targeting to reduce its real estate portfolio’s emissions by 50% on an absolute basis through decarbonization efforts. These moves should reduce the fund portfolio’s carbon footprint by 32% compared with a 2021 baseline.

HOOPP is a founding member of Climate Engagement Canada and will make appropriate disclosures in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

“As we approach 2030, we will assess our progress against our 2030 targets as part of our preparation for the next five- and 10-year periods,” HOOPP said in a release.

Related Story:  Fidelity Debuts Climate-Focused, Global Bond ETF In Europe

Image by Anja from Pixabay

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