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'Squarely on strategy': CPPIB says stake in California oil and gas producer fits ESG plan

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CPPIB\u0027s energy transition plan involves buying into mature oil and gas projects, rather than divesting from the sector. Read more here.

The partners plan to make Aera carbon neutral in 10 years, continuing to meet California’s conventional energy demands while building up carbon capture and storage alongside a renewable energy portfolio including solar to power Aera’s existing operations.

“That runoff actually works quite well with increased steps to build that renewable power and decarbonization on site.” The Hamburg-based asset manager has owned and operated other U.S.-based energy assets, including former BP gas operations in Colorado and New Mexico.

 

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'Squarely on strategy': CPPIB says stake in California oil and gas producer fits ESG planCPPIB\u0027s energy transition plan involves buying into mature oil and gas projects, rather than divesting from the sector. Read more here.
Source: financialpost - 🏆 7. / 85 Read more »