Quebec’s Caisse to sell remaining oil production investments by end of 2022
Global News
The Quebec investment manager says its remaining assets in the sector make up one per cent of its portfolio.
Caisse de dépôt et placement du Québec says it will sell its remaining oil production investments by the end of next year as part of its climate strategy.
The Quebec investment manager says its remaining assets in the sector make up one per cent of its portfolio.
CDPQ made the announcement as it released its new plan to fight climate change.
READ MORE: Quebec’s Caisse posts 7.7% return in 2020 as real estate underperforms
As part of the plan, the investment fund says it will create a $10-billion transition envelope that will help support companies in the heaviest emitting sectors to reduce their carbon intensity.
CDPQ also says it plans to hold $54 billion in green assets by 2025 and reduce its portfolio’s carbon intensity by 60 per cent by 2030 compared with 2017.
Earlier this month, the Ontario Teachers’ Pension Plan board said it aimed to slash the carbon emissions intensity of its investments by 45 per cent by 2025 and by two-thirds by 2030, compared against its 2019 baseline.
The changes were announced by Ottawa last year and kicked in on Thursday, also prohibit banks from charging more than one NSF fee in two business days for the same deposit account.
U.S. benchmark crude oil jumped US$4.52 to US$91.77 a barrel. Brent, the international standard, climbed US$5.34 to US$97.32 per barrel after briefly eclipsing the US$100 level.
Stock index futures were steady on Tuesday, as investors hoped for a quicker resolution to the Middle East conflict that has led to a spike in energy prices.
The video game company on Friday joined thousands of American importers who have filed requests in the U.S. Court of International Trade for tariff repayments.
U.S. stocks are falling sharply Friday after getting a whiff of a worst-case scenario for financial markets: a weakening economy combined with high inflation.
The price for a barrel of benchmark U.S. crude shot up 8.5 per cent Thursday to settle at US$81.01 per barrel, the highest level since the summer of 2024.
Under the terms of the voluntary pledge, companies intend to build or buy new sources of power generation for their data centers and cover the expense of infrastructure upgrades.
Oil prices leaped, and stock markets slumped worldwide following military strikes by the United States and Israel on Iran, including Wall Street and the TSX.
'The core thesis is simple. Intelligence tools have changed what it means to build and run a company,' CEO Jack Dorsey said in a letter to shareholders of the financial tech firm.