The Canada Pension Plan Investment Board (CPPIB) is financing four liquefied natural gas (LNG) terminals — and signalling there could be more to come — despite the industry bringing worsening climate damage and escalating financial risks to the Canada Pension Plan (CPP).

This reckless bet on fossil fuel expansion by the $793-billion investment manager for the CPP comes despite an accelerating energy transition, expected LNG supply glut and increased market competition from cheaper, cleaner alternatives. 

CPPIB’s gamble on LNG expansion also comes amidst grim scientific warnings that the global climate is approaching dangerous tipping points. The pension manager’s deficient climate approach has led young Canadians to take CPPIB to court, alleging that it’s breaching its duty to invest in their best interests by mismanaging climate risks while investing billions in fossil fuels.

While a CPPIB executive recently said climate change is “the single biggest source of risk for the fund,” that hasn't stopped CPPIB from making at least $6 billion in new investments in fossil fuels in 2025. That includes big bets on LNG — a primary driver of........

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