Learn About OMERS’ Climate Scores
The 2022 Canadian Pension Climate Report Card assesses large Canadian pensions on their handling of climate-related risks. Read the analysis to learn about OMERS’ scores on climate, including its overall score and subscores in the categories of Paris-Aligned Target, Interim Climate Targets, Climate Urgency, Climate Engagement, Climate Integration and Fossil Fuel Exclusions. The analysis is based on publicly available information to December 31, 2022.
Updates since December 31, 2022
In OMERS’ 2023 Climate Action Plan, released in September 2023, OMERS:
announced a link between incentive pay and climate performance;
committed to reach $30 billion in green assets by 2030;
committed to have the 20 most emissions intensive companies in the portfolio have credible net-zero transition plans in place by 2030;
committed to not use offsets to contribute toward its interim emissions intensity reduction targets;
placed an exclusion on new direct investment in companies generating more than 25% of revenue from thermal coal.
In OMERS’ 2022 Annual Report, released in February 2023, OMERS:
reported that it had surpassed its 2025 carbon emissions intensity target, achieving a 32% reduction below 2019 levels
committed to achieving a 50% reduction in the portfolio’s emissions intensity by 2030 (below 2019 levels)
announced the creation of a $3 billion “transition sleeve” for “assets playing a key role in the global transition toward a lower-carbon economy.”
provided enhanced disclosure of its carbon footprint metrics.
About OMERS
OMERS is the investment manager for the pension fund of Ontario’s municipal workers, with 559,000 members and over 1,000 participating employers (ranging from large cities to local agencies). Members include union and non-union employees of municipalities, school boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario.
Assets Under Management (AUM): $127.4 billion (June 30, 2023)
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