The Coalition Sortons la Caisse du carbone analyzed the performance of the 50 oil and gas companies in the exploitation and transportation sector in which the Caisse de dépôt et placement du Québec (CDPQ) has held its largest equity investments since 2011. Over the twelve years that we have analyzed the performance of this analyzed the performance of this group of companies that make up the Carbon 50 Index, 2022 is only the third year in which the performance is superior to the stock market indices with which we compare it (e.g. Dow Jones).
Over the entire period, the Carbon 50’s return was -6.5%, while the other stock market indices
the other stock market indices have grown between 117% and 151% over the same period.
The repeated demonstration of these losses was a key factor in the CDPQ’s decision to exit the oil sector at the end of 2022. In this report, we show that the exponential growth in renewable energy puts fossil gas in a high asset depreciation scenario in the near term, which is in the blind spot of the Caisse’s strategic vision considering its statements and positions on this energy.
By the end of 2022, Sortons la Caisse du carbone adds up all the investments in stocks and bonds, resulting in $8.1 billion in fossil gas development, as well as in the hydrocarbon transportation sector, assets that present a financial risk that should no longer be overlooked by the Fund.