Alberta Investment Management Corp., Edmonton, plans to work with its constituent funds to determine the implications on its C$83.9 billion ($63 billion) in assets of new provincial climate change goals to move more to renewable energy and away from carbon-based sources, spokesman Denes Nemeth said in an e-mail Monday.
Goals include phasing out “all pollution created by burning coal and transition to more renewable energy and natural gas generation by 2030,” Rachel Notley, Alberta’s premier, announced Sunday in a statement.
Alberta will phase in a price on carbon to $30 a ton economywide in 2018 and place an “overall oil sands emission limit of 100 megatons.”
Mr. Nemeth said AIMCo’s clients, which are made up of representatives of provincial pension plans, endowment funds and government funds it manages, “are responsible for setting their respective asset allocation policies, and we invest accordingly to maximize their investment portfolio returns. As the details of the government policy are finalized, AIMCo will work with our clients to understand what the impact will be.”
