Investor Climate POLICY COMPARISON

The fact sheet compares the climate strategies of eleven major asset owners, detailing their Net Zero targets, interim emissions reduction goals, and specific exclusions of fossil fuels. It highlights varying levels of Scope 3 reporting and tracks financial commitments to climate solutions, with some investors like CDPQ and NYC Funds reporting significant progress or exceeding their targets.

• Institutional investors have established diverse Net Zero target dates, ranging from 2040 for NYC Funds and the New York State Common Retirement Fund (NYS CRF) to 2050 for CalPERS, CalSTRS, OIC, ABP, CDPQ, and OMERS, with AP2 targeting 2045.
• Fossil fuel exclusion strategies vary by investor: CalPERS, CalSTRS, and OIC utilize legislation for thermal coal exclusion; NYC Funds has a 2021 resolution to divest from publicly-traded fossil fuel reserve owners and 2023 requirements for private managers to exclude fossil fuel production, exploration, or extraction; and CDPQ exited thermal coal mining and oil production by the end of 2023.
• Several investors have set and tracked specific financial targets for climate solutions, with some exceeding their goals. For example, NYC Funds invested $17.6 billion across five pension funds, exceeding its target, and NYS CRF committed over $26 billion as of 2025, exceeding a $20 billion target.
• Reporting of Scope 3 emissions is inconsistent across the group. While ABP, OIC, and AP2 report Scopes 1, 2, and 3 for their portfolios or asset classes, CDPQ explicitly does not report Scope 3, and OMERS is only beginning to track it.
• Significant emissions reductions have been reported by some entities, including CDPQ, which achieved a 64% cut to carbon intensity in 2025, and OMERS, which reported a 65% Scope 1 & 2 emissions intensity reduction in 2024.

APA

Private Equity Stakeholder Project (n.d.). Investor Climate POLICY COMPARISON. https://pestakeholder.org/wp-content/uploads/2026/09/PESP_Report_Climate-Policy-Comparison_2026.pdf

Chicago

Private Equity Stakeholder Project. Investor Climate POLICY COMPARISON. n.d. https://pestakeholder.org/wp-content/uploads/2026/09/PESP_Report_Climate-Policy-Comparison_2026.pdf.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Investor Climate POLICY COMPARISON |url=https://pestakeholder.org/wp-content/uploads/2026/09/PESP_Report_Climate-Policy-Comparison_2026.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderprojectndinvestor, author = {{Private Equity Stakeholder Project}}, title = {{Investor Climate POLICY COMPARISON}}, institution = {Private Equity Stakeholder Project}, url = {https://pestakeholder.org/wp-content/uploads/2026/09/PESP_Report_Climate-Policy-Comparison_2026.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }