Ecojustice announces the first case of its kind… they are representing four young Canadians taking on the Canada Pension Plan Investment Board (CPPIB), one of Canada’s largest financial institutions, for putting our pensions at risk.
Learn more about this historic case. Rewatch the press conference.
Represented by lawyers from Ecojustice and Goldblatt Partners LLP, Aliya Hirji, Travis Olson, Rav Singh, and Chloe Tse, who allege that the Canada Pension Plan Investment Board (CPP Investments) is breaching its legal duties by subjecting pension contributions to undue risk of loss from poorly managed climate risk.
The case argues that CPP Investments’ reported climate modelling drastically underestimates the financial risks of climate change to the Canada Pension Plan.
This marks the first time a Canadian investor has been sued for mismanaging climate risks. Globally, it is the first climate case against a pension fund investment manager anchored in the duty of impartiality and even-handedness in a multi-generational context — in other words, the duty to act fairly towards young contributors who will retire after 2050 when climate-related financial risks will be even greater.