Acting on the net-zero carbon imperative
For decades, the United Nations’ Intergovernmental Panel on Climate Change (IPCC) has warned that to avoid catastrophic climate-related risks to our natural and physical environment, we must limit the global rise in temperatures to no more than 1.5°C above the pre-industrial era. In its most recent report in 2023, the IPCC warned that not only must global carbon emissions decline by nearly half by 2030, but that three to six times the current climate investment is needed to rapidly reduce climate emissions. It is clear that to reach net-zero by 2050 will require large-scale mobilization of public and private capital, including philanthropic funding and investments.
With this Climate Action Plan, McConnell is publicly committing to the goal of net-zero greenhouse gas (GHG) emissions for our investment portfolio by 2050 or sooner.
We believe this is an important and necessary step in ensuring that all our assets work in harmony towards advancing our mission.
We are pleased to join the growing group of global investors who are committing to net-zero by 2050. In Canada, we have been inspired by the Caisse de Dépôt et de Placement du Québec, the University Pension Plan of Ontario, and in the international philanthropic sector, by the McKnight Foundation and The David Rockefeller Fund, who are leading the way in this work. We hope that by making this commitment, and by sharing what we learn as we implement this action plan, others in the philanthropic sector and in capital markets will be inspired to align their assets in support of a healthy climate.
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