Climate change is a significant global risk that impacts all aspects of human life and activity, including the global economy. We acknowledge the seriousness of this important global issue and, as part of our climate change strategy, have committed to reducing our portfolio’s emissions to net zero by 2050. Our climate change strategy has been built on the belief of doing what's good for our pension plan and our planet.

Our commitment and plan to achieve net zero by 2050 is a multi-decade goal. To achieve that long-term goal, we have thoughtfully designed interim targets that work in tandem, with each reinforcing the other. Our plan is targeting three key areas:

• Encouraging companies to adopt credible, science-based transition plans that can directly reduce the greenhouse gases that enter the atmosphere.


• Increasing the capital made available for green investments that support our net-zero commitment and help us deliver on our pension promise.


• Focusing on emissions reductions. We prioritize actual emissions reductions over selling assets that may reduce our carbon footprint but not the world’s footprint.

These key areas and targets provide us with a pathway to achieving our commitment of a net-zero portfolio by 2050. In combination, the three goals should deliver results that can be good for our Plan and our planet.

Achieving our climate change strategy, and specifically net zero, fully supports our ability to deliver on our pension promise and do what’s good for our Plan and our planet. We are proud of the work that went into the strategy and look forward to providing you with regular updates on our progress.

Learn more about our climate change strategy

See below for some of the most commonly asked questions and answers.

1. What is net-zero?

Net zero is reached when the amount of carbon emissions produced is significantly reduced or eliminated before offsetting any residual amounts. Net zero can help address climate change by helping to reduce global warming.

2. What is HOOPP’s net-zero commitment?

HOOPP has committed to achieving net-zero carbon emissions in our portfolio by 2050. This commitment is an important element in our ongoing focus on sustainable investing. We recognize that climate change poses both material risks and opportunities and managing these is important. As a pension plan, we have a fiduciary responsibility to deliver on our pension promise to Ontario healthcare workers. We consider climate risk as part of our investment management process. Learn more about the work we are doing to address climate change.

3. Will all your climate change activities affect my pension or how much I get?

Your pension is based on a formula. It is calculated using your earnings and years of service in the Plan, so you don’t need to worry about market volatility. That means before you retire you will already have a good sense of what your benefit will be and, once you retire, you will receive your monthly benefit for the rest of your life. Our net zero and climate change plans have been created to align with and support our pension promise of providing members with a secure lifetime pension. Delivering on this promise is our overarching goal. Our climate-related investment approach is no different from our standard investing approach. We invest in any industry or sector the same way, following careful analysis of relevant risks and due diligence, ensuring that the investments we make will support our pension promise.

4. Are you committing to net zero in your internal operations?

We are currently looking into achieving net zero in our internal operations in the coming years.

5. How will HOOPP communicate its progress towards goals and targets to members?

We intend to report to members annually on our climate-related progress in our Annual Report. We also publish our Task Force on Climate-related Financial Disclosures (TCFD) annually.

6. How can I learn more about HOOPP’s climate change plan?

You can learn more on our Climate Change page, where you can find our climate change report and read more about our various climate-related initiatives.