Four young Canadians have filed a lawsuit against CPP Investments, the Canada Pension Plan’s investment manager. Specifically, they claim that the entity has failed to adequately address and oversee risks posed by climate change to its finances. On October 27, 2025, the plaintiffs issued their statement of claim in the Ontario Superior Court of Justice. Among those honored were Aliya Hirji, 20, and Travis Olson, 22. They assert that CPP Investments is breaching its duty to act in their best interests when it comes to managing their pension contributions.
The CPP lawsuit asserts that CPP Investments has put the plaintiffs’ contributions at undue risk for loss. It claims that firm did not adequately incorporate climate risks into its overall investment strategy. The plaintiffs contend that this negligence puts their expected future retirement benefits at risk. Not just that—women have been historically made to depend on these investments for their financial security in later life.
In their lawsuit, Hirji, Olson, and their fellow plaintiffs say they’re worried about the long-term health of their pension fund. They argue that CPP Investments has failed to do what’s required of it to safeguard their interests and avoid irresponsible investments. This lawsuit is an exciting milestone. Future beneficiaries are thus suing in court for the first time, but for the first time this year, a major investor is being forced to make a claim upholding its duty of intergenerational equity.
“The practices of my pension manager are incompatible with an economically stable, climate-safe future that my generation is relying on,” stated Olson. His sentiments echo a concern that is becoming increasingly common among Canadian youth. They’re really worried about what climate change is going to do to their long-term financial security.
Hirji expressed similar sentiments and underscored her wish for a predictable retirement. “I do not want to be suing my pension manager, but I want to retire on a stable pension into a livable future,” she remarked.
CPP Investments also has a strong history of recognizing the importance of managing risks across the board, including climate-related risks. The purpose of the fund is to provide maximum long-term investment return within an acceptable level of risk. Michel Leduc, a representative for CPP Investments, noted that “our focus remains steadfast on integrating climate-related considerations into our investment activity.” He further stated that any action against CPP Investments jeopardizes the retirement security of 22 million Canadians who rely on the Canada Pension Plan.
As the case develops, CPP Investments looks forward to vigorously defending itself against this erroneous lawsuit. They are prepared to defend against claims that they have breached their fiduciary responsibilities. The outcome of this lawsuit may set a precedent regarding how investment managers address climate risks and fulfill their obligations to future generations.
