The OPSEU Pension Trust has reduced its financed emissions intensity by 11 per cent when compared to 2022, according to the investment organization’s latest climate risk disclosure report.
In 2023, the OPTrust extended the scope of its carbon footprint measurement to 70 per cent of its assets, up from 40 per cent in 2022. The report noted the coverage extends to assets where a carbon footprinting methodology exists and the data is available to the plan.
As part of its commitment to environmental causes, the OPTrust has implemented new monitoring checks for climate risk metrics across its portfolio, developed due diligence toolkits to manage its exposure to climate-related risks and designed a climate taxonomy for infrastructure and private equity assets.
Read: OPTrust aiming to cut 30% of carbon footprint from portfolio by 2030
The investment organization said it’s looking to target sustainable incubation investment strategies by allocating capital to earlier-stage, climate-themed innovation that would compliment its renewable energy and green building investments.
After reviewing the climate targets and ambitions of all G7 countries, the OPTrust began applying its novel climate risk initiatives including advancing its taxonomy and implementing its updated due diligence metrics.
In a press release, Alison Loat, senior managing director sustainable investing and innovation at the OPTrust, said she’s proud of the progress the investment organization has made on behalf of its plan members.
“OPTrust’s investments in renewable energy, sustainable buildings and innovations in clean transportation, the circular economy and technologies enabling the energy transition drive progress toward a low-carbon future.”
Read: 2023 GIC coverage: How OPTrust is building resilient portfolios with help of external managers