The Canadian Medical Association (CMA) is on track to reach net-zero greenhouse gas emissions in its investment portfolio by 2050 — meeting crucial interim targets.
The CMA maintained its trajectory to achieve a 33% reduction in greenhouse gas emissions in its investment portfolio by 2030.
A second interim target will see the CMA’s investment portfolio reach a 66% reduction in emissions by 2040, compared to the portfolio’s 2019 baseline. As of Dec. 31, 2022, the CMA is reporting a 31% reduction of its investment-based carbon footprint.
These milestones reflect the CMA Board’s commitment, announced in December 2020, requiring the CMA and its subsidiaries to divest investments from energy companies whose primary business relies on fossil fuels.
“The devastating health impacts of climate change are rapidly intensifying all over the world. Every year, wildfires, heat waves and other climate disasters are having catastrophic effects on communities. As physicians and health care advocates, we have a responsibility to act now.” — Dr. Alika Lafontaine, CMA president
CMA Impact Inc. also joined numerous responsible investing coalitions, including:
Responsible Investment Association: Comprised of more than 160 organizational investors that collectively oversee more than CAD $42 trillion in assets, Canada’s industry association is committed to catalyzing action and advancing a policy environment conducive to responsible investing.
2022 Global Investor Statement to Governments on the Climate Crisis: More than 500 investors worldwide — representing almost USD $42 trillion in assets under management — delivered an ambitious climate goal statement to governments before the COP27 Summit. It called on governments to implement five priority policy actions including: medium- and long-term climate strategies, transitioning energy away from fossil fuels, ending deforestation, bolstering climate finance and strengthening disclosures.
Long-term Investors in People’s Health coalition: This global initiative aimed at elevating health as a systemic risk by the investment system includes collective engagement initiatives to drive accelerated company progress and disclosure on key health issues from companies in the portfolio.
These initiatives are part of the CMA’s continued work to take a health-centered approach to climate change and create a healthier planet for future generations.