9 of Canada’s largest pension managers co-own 22 private gas companies operating nearly 350,000 km of gas pipelines around the world. Gas is a primary cause of the climate crisis–so these pension-owned gas assets face losing value, becoming stranded as the energy transition accelerates.
Gas companies claim they can convert their infrastructure to use hydrogen – but these greenwashed claims do not stand up to scrutiny. Phasing out gas is required to prevent the worst outcomes of climate change – and hydrogen is unable to replace it.
The report includes case studies on Canadian pension funds investing your retirement savings in gas companies with hydrogen projects that are risky and unlikely to succeed. By continuing to fund gas companies, pension managers are deepening the climate crisis and putting retirement security at risk.
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