Ontario Teachers’ Pension Plan Board

Ontario Teachers’ Pension Plan Board is an independent, government‑owned public pension organization that administers and invests Canada’s largest single‑profession defined benefit pension plan for school teachers in Ontario. Established in 1990 and jointly sponsored by the Ontario government and the Ontario Teachers’ Federation, it manages the pension fund, pays lifetime benefits to working and retired teachers and their survivors, and advises plan sponsors on funding and benefit design. As at December 31, 2025 it was fully funded with a 111% funding ratio, net assets of C$279.4 billion, a one‑year total‑fund net return of 6.7% and an annualized net return of 9.2% since inception, serving about 346,000 working members and pensioners. Ontario Teachers’ operates as a global, performance‑driven investor with headquarters in Toronto and offices including London, Singapore, Mumbai, New York, Dallas and San Francisco. It manages a diversified portfolio across public equity, private equity, venture growth, infrastructure, natural resources, real estate, credit, commodities and absolute return strategies, with roughly three quarters of assets managed internally and significant allocations across Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia‑Pacific. Its infrastructure and energy‑related holdings include major stakes in airports, electricity transmission and distribution businesses and renewable power, for example through Cubico Sustainable Investments, the Spark Infrastructure platform in Australia and a 50% interest in Canadian district‑energy operator Enwave. The plan issues term debt and commercial paper through Ontario Teachers’ Finance Trust, including a regular green bond program under a Dark Green‑rated framework, and embeds sustainable investing in its total‑fund approach, targeting net‑zero portfolio emissions by 2050, having cut portfolio emissions intensity by 49% from 2019 to 2024 and grown green and transition‑aligned investments to well over C$30 billion.