Montreal municipal employees' pension plan promises to divest from fossil fuels, repatriate investments | Benefits Canada.com

Source: Benefits Canada

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"This commitment is a first concrete step and sends a strong signal to other cities, governments and public pension funds to strengthen the green economy," said Montreal Mayor Valérie Plante during a local climate summit.

Decarbonization efforts can be tackled when there's political will and the right partners get together, the mayor added.

She also said the city is working to repatriate nearly all of its roughly $10 billion worth of investments, of which just 23 per cent is currently managed locally.