Four of Canada’s largest pension funds have been ranked among the top 10 global pension funds for demonstrating best practices in governance, sustainability and resilience, according to a new report by data platform Global SWF.
The assessment tool, which reviews the practices and efforts of state-owned sovereign wealth funds and public pension funds, gave the Caisse de dépôt et placement du Québec and the British Columbia Investment Corp. perfect scores across the board alongside the Ireland Strategic Investment Fund, Singapore-based Temasek Holdings Ltd. and the New Zealand Superannuation Fund. The Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan received a score of 96 per cent.
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Investment organizations are graded based on 25 elements spread across governance issues (10), sustainability (10) and resilience (5). The overall score across funds increased slightly to 61 per cent from 60 per cent in 2023.
The report noted institutional investors have allocated US$9.7 billion in green investments through the first half of 2024 and public pension funds have spent $31.9 billion across 101 deals.
It also found the ‘Oil Five’ — Saudia Arabia’s Public Investment Fund, the Abu Dhabi Investment Authority, Mubadala Investment Co., the Abu Dhabi Developmental Holding Co. PJSC and the Qatar Investment Authority — invested $38.2 billion across 58 deals in the first half of 2024, more than double the amount Canada’s eight largest pension funds have deployed.
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