Pension funds improving on climate but overall still falling short: report

A new report by an advocacy group says some of Canada's major pension funds have made significant improvements in responding to the climate crisis, but overall are still falling short.

The report by Shift Action for Pension Wealth and Planet Health shows a high level of inconsistency among the 11 pension funds evaluated, and finds they're lacking compared with some international peers.

Adam Scott, executive director of Shift, says major pension funds need to do more to safeguard their portfolios against climate-related risk, and to take action to lessen the crisis.

He says action by pension funds is important because the retirement plans of millions of Canadians depend on them, and because of the financial sway the funds hold.