Canada Pension Fund Sued by Young People Over Climate Risks
Groups of young people in several nations have sued governments and major energy companies for allegedly contributing to future climate change or failing to address it.
Photographer: James MacDonald/BloombergThe Canada Pension Plan Investment Board was sued by a group of young people who claim the pension fund is putting their benefits in jeopardy by mismanaging climate-related financial risks.
Aliya Hirji, Travis Olson, Ravneet Singh and Chloe Tse, who don’t plan to retire until after 2050, allege in the lawsuit that the country’s largest pension fund breached its legal duties to them by failing to “prudently identify, assess or manage climate-related risks.” The suit, filed in Ontario’s Superior Court of Justice, also calls out the pension plan for its continued investments in fossil fuels.