UPP Shares First Annual Report, Pathway to Net Zero by 2040 or Sooner

2021 UPP annual report and climate action plan

UPP is pleased to share our inaugural Annual Report, accompanied by our formal commitment and action plan for achieving a net-zero greenhouse gas emissions portfolio by 2040 or sooner.


Building a Bright Future: UPP’s 2021 Annual Report

July 1, 2022, marked the first anniversary of UPP becoming your new pension provider; a role we are honoured to serve. As part of this important milestone, we’re proud to share with you our first Annual Report capturing the Plan’s initial six operating months from July 1 to December 31, 2021.

Visit MyUPP.ca to download the report or learn more about UPP’s initial year and see our financial statements and other important disclosures.

 

UPP At A Glance

At December 31, 2021


111%

Fully Funded

 

$11.8B

Assets under management

4

Universities*

$254M

Total pension benefits paid in the last half of 2021

37,000+

Members

12

Participating Employers*

*As of Jan 1, 2022


UPP’s Climate Action Plan

In our responsible investing forums and member survey held earlier this spring, we previewed our working climate-related commitments and sought member input on how to put those commitments into action. We were pleased to hear that plan members share our view that combating climate change and promoting a resilient future are essential aspects of our investment approach, and a means for long-term sustainable value. You can explore this and other survey results in our 2021-2022 Member Engagement Results report.

Today, we’re proud to share our formal commitment to transition our investment portfolio to net-zero GHG emissions by 2040 or sooner, as laid out in UPP’s Climate Action Plan. The action plan outlines how we will pursue our target while helping drive the broader global transition to net zero and climate resiliency, and the interim steps and milestones we will use to measure and demonstrate progress along the way.

Read UPP’s Climate Action Plan

UPP will transition its investment portfolio to net zero greenhouse gas emissions by 2040 or sooner with interim emissions reduction targets. 16.5% by 2025 and 60% by 2030. This means our investment portfolio will emit minimal greenhouse gases and 100% of the remaining emissions will be offset by 2040.

Have questions about UPP? We’ve addressed the most-asked questions generally, and from our member engagements, on our Frequently Asked Questions page.

Have thoughts or feedback to share? Please reach out anytime via myupp@universitypensionplan.ca.

 

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