Michael Sabia announces departure from CDPQ at the beginning of 2020
"Leading CDPQ for nearly 11 years has been the greatest privilege of my career. Throughout this period, my goal has been to realize the full potential of this unique institution to benefit the people of
"
Under
Mr. Sabia introduced a new vision for CDPQ's investments in
In 2017, with the goal of positioning the institution for the coming economic transition, Mr. Sabia and his team created and launched an investment strategy to address climate change. The strategy sets out objectives for increasing low-carbon assets in the CDPQ portfolio and reducing its carbon intensity by 25%. This combination of objectives was a first in the industry. Earlier this year, CDPQ announced, with a coalition of major global investors, that its portfolio would be carbon-neutral by 2050. These concrete and forward-looking initiatives have led to recognition of CDPQ as a global leader on this important issue.
"It's our distinctive approach of investing constructive capital, producing solid returns for our depositors while investing in the development of the real economy, that has guided all our work over the last decade. This approach has allowed us to contribute to the vitality of a modern and strong
Building on his experience and interest in international affairs and in the evolution of the global economy – work that he began at CDPQ – Mr. Sabia has accepted an offer to lead the
Selection process
CDPQ's Board of Directors has started the selection process for the next President and Chief Executive Officer. As part of the process, the Board has retained the services of an international firm to support its review of candidates.
"CDPQ's Board of Directors has launched a rigorous selection process to find the best person to lead this key
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