Award recognizes organizations that are actively leading the charge to create a climate and nature-positive future
Caisse de dépôt et placement du Québec (CDPQ) has been awarded the ‘2023 Terra Carta Seal’ by the Sustainable Markets Initiative (SMI), an organization focused on building a coordinated global effort to enable the private sector to accelerate the achievement of global climate, biodiversity, and sustainable development targets.
The Terra Carta Seal is presented to companies and organizations that have demonstrated the success of a high-impact, large-scale, and company-wide project, initiative, or strategy aligning with one or more of the Sustainable Markets Initiative’s 10 Terra Carta Articles. The Articles underpin the Terra Carta, the Sustainable Markets Initiative’s guiding mandate, which provides a roadmap and framework to accelerate the transition to an ambitious and sustainable future, placing nature, people, and planet at the heart of global value creation.
CDPQ is the first Canadian pension fund to receive this award, highlighting its efforts to achieve a net-zero portfolio by 2050. To actively contribute to a more sustainable economy, the fund says it set intermediate targets and adopted concrete measures, including investing $54 billion in low-carbon assets by 2025 and committing to a 60 percent reduction of its portfolio’s carbon intensity by 2030 compared to 2017. The fund says this recognition highlights the quality of its teams’ work and the organization’s commitment to directing capital toward a greener and more equitable transition.
This year for the first time the judging process involved independent, external partners Verdantix and the Expert Review Panel, who worked together to assess the eligibility and impact of each nominated organization against recognized global sustainability criteria.
