By The Canadian Press

Energy Business

AIMCo CEO rejects fossil fuel divestment as investment strategy

Sep 21, 2022 | 5:59 PM

CALGARY – The CEO of the Alberta Investment Management Corp. (AIMCo) says divesting from fossil fuels is the opposite approach pension funds should be taking if they want to help solve the climate crisis.

Evan Siddall says AIMCo wants to be a leader in financing the transition to a low-carbon economy, but it won’t do that by divesting from fossil fuels as some global pension funds have done.

Instead, Siddall says AIMCo will be exploring opportunities to invest in oil and gas companies and other heavy industrial emitters.

He says heavy emitting companies are developing plans to lower, though not eliminate, their greenhouse gas footprints and will need capital to implement those plans.

Siddall says investing in the oil and gas sector’s decarbonization efforts will help Canada achieve its climate targets and generate strong returns for investors.

Meaningful Mementos

Remembering Someone You've Lost at Christmas

Dec 03, 2024

Seasonal Sorrow

How Do You Get Through The Holidays When You're Grieving?

Nov 01, 2024

Upcoming Events at Oliver's

Grief & Loss and Estate Planning Seminars

Oct 02, 2024

AIMCo is one of Canada’s largest institutional investment managers, responsible for the investments of pension, endowment and government funds in Alberta. As of Dec. 31, 2021, it had $168.3 billion of assets under management.

(The Canadian Press)