Caisse de Depot et Placement du Quebec, Montreal, reported C$34 billion ($26.1 billion) in low-carbon assets in its overall C$340.1 billion portfolio as of Dec. 31.
The amount is up from the C$18 billion in low-carbon assets in CDPQ's portfolio when the pension fund launched its low-carbon investment strategy in 2017, according to the pension fund's 2019 Stewardship Investment Report published on its website Tuesday.
The target for 2020 is $32 billion in low-carbon investments, according to the report.
The report also says CDPQ's efforts to reduce the overall portfolio's carbon intensity are making progress toward the goal of reducing the carbon intensity per dollar invested by 25% by 2025.
The carbon intensity of the overall portfolio decreased by 21% as of Dec. 31 compared to the pension fund's benchmark for 2017.
CDPQ's 2019 Stewardship Investing Report is available on its website.