(Reuters) - Caisse de depot et Placement du Quebec (CDPQ), Canada’s second-largest public pension plan, said it would increase investments in low carbon assets by more than C$8 billion ($6.42 billion) over the next three years.
CDPQ also set a medium-term target to reduce its carbon footprint by 25 percent per dollar invested.
"From now on, climate change will factor in each and every investment decision we make across the breadth of our portfolio," Chief Executive Michael Sabia said in a statement on Wednesday. (bit.ly/2xOLPmh)
The fund also intends to reduce its exposure in high-carbon intensity assets such as coal.
($1 = 1.25 Canadian dollars)
Reporting by Taenaz Shakir in Bengaluru; Editing by Sriraj Kalluvila