TORONTO — The Ontario Teachers’ Pension Plan Board says it’s moving away from an emissions intensity target for its portfolio to instead focus on climate investment goals.

In its new 2030 target, the pension board says it’s aiming to double what it calls “climate transition aligned” private investments to $70 billion.

It says it will retire its 2030 goal of a 67 per cent reduction in the carbon emissions intensity of its portfolio compared with a 2019 baseline.

OTPP says it has already achieved its interim goal of a 50 per cent intensity reduction, so it’s shifting focus to investments aligned with a net-zero future.

The pension board says emissions intensity remains useful for company comparisons, but not for measuring…