BCI, the $233 billion pension manager for 725,000 public sector employees, including teachers, health care workers, college and university staff, and provincial and municipal public servants, released its 2022-2023 Annual Report last week. BCI’s lack of a net-zero emissions commitment, failure to implement a fossil fuel exclusion, and continued investment in fossil fuels and related infrastructure demonstrate that the fund is not yet aligned with the goals of the Paris Agreement.

While BCI is responding to calls from beneficiaries for increased disclosure of how it is handling climate-related risks, the investment manager has minimal investments in climate solutions, remains invested in risky high-carbon assets without credible decarbonization pathways, and continues its futile attempts to engage with fossil fuel companies that are failing on climate action.