Ivanhoe Cambridge, the real estate investment subsidiary of the C$365.5 billion ($292.1 billion) Caisse de Depot et Placement du Quebec, Montreal, plans to achieve net-zero carbon by 2040.
The company announced its intention to accelerate its decarbonization strategy in a news release Tuesday.
Ivanhoe Cambridge plans to reach a milestone of a 35% reduction in carbon intensity by 2025, as well as increase its low-carbon investments by more than C$6 billion by 2025 compared with 2020. According to the news release, the company had C$14.6 billion in low-carbon investments as of Dec. 31, an increase of almost 200% since 2017.
Also beginning in 2025, the company said it will make all development projects net-zero carbon.
"Both as a player and as an influencer in our ecosystem, we believe it is our duty to make a positive impact on the environment," said Nathalie Palladitcheff, Ivanhoe Cambridge's president and CEO, in the news release. "We view this commitment as a value-creation strategy, and our approach also strengthens the resilience of our assets, because sustainable investments will be more profitable over the long term."
Officials at Ivanhoe Cambridge could not be immediately reached for further information.
