Canada pension speeds up renewables push with new sustainable energy group

Eguana Technologies

06/04/2021 15:10

April 6 (Reuters) - Canada Pension Plan Investment Board
(CPPIB) said on Tuesday it will create a new investment group
that focuses on sustainable energy, in a bid to boost its
portfolio of renewable energy investments.
    Pension and infrastructure funds have been investing more in
the renewable energy space, given the steady returns such assets
generate, amid a push for tackle climate change. 
    The new group, Sustainable Energy Group (SEG), will combine
Energy & Resources (E&R) and Power & Renewables (P&R) groups and
 have about $18 billion in assets.  urn:newsml:reuters.com:*:nCNWF6NLXa
    Bruce Hogg, former head of Power & Renewables group, will
lead SEG.
    In November, Canada's eight biggest pension funds urged
companies and their investment partners to report environmental,
social and governance (ESG) data in a standardized way to
improve corporate sustainability reporting. [https://reut.rs/3rSAy0j
]

 (Reporting by Rithika Krishna in Bengaluru; Editing by Shinjini
Ganguli)
 ((Rithika.Krishna@thomsonreuters.com;))