Michael Sabia

Michael Sabia, Speaker at C2 Montréal 2019
President and CEO, Caisse de dépôt et placement du Québec (CDPQ)
Michael Sabia has been President and CEO of Caisse de dépôt et placement du Québec (CDPQ) since 2009. With Michael at the wheel, the fund’s net assets have grown from $120 billion a decade ago to nearly $310 billion today. As CEO of one of the world’s largest pension fund managers, Michael is helping accelerate our global economy’s transition, by addressing climate change and seizing tomorrow’s major opportunities. And he strongly believes that being part of this transition and generating good returns from it go hand in hand. Under his leadership and pursuing ambitious goals, the CDPQ developed a strategy to address climate change. In the last year alone, this global investor added $10 B in green assets to its portfolio and reduced its carbon intensity by 10%. This makes CDPQ the first institutional investor in North America to set a carbon target covering all its asset classes. “In 1960, the average hold on the New York Stock Exchange was eight years; now it’s eight months. If you’re thinking quarter to quarter, you’re basically a tourist, just visiting companies. You’re not taking a longer-term perspective on how that company is going to grow and develop, so you don’t really care whether they’re investing enough in their future, doing enough R&D. But from a social point of view, those things really, really matter.” “Growth is in our long-term interest, and right now we’re staring at a world where there’s going to be insufficient growth. One of the reasons is too much capital is focused way too much on short-term perspectives. That same principle underlies what we’re doing around climate. There are way too many investors who address climate as a constraint — it means not doing things. We think about it as an opportunity.”