As a pension plan, we help deliver retirement security for generations of teachers. That inherently means thinking long-term and incorporating big picture enduring themes like climate change and the energy transition into how we invest and manage our portfolio. We have been committed to taking an active role in that regard, including through reducing emissions intensity through active work with the companies we own.
And we have made progress, having achieved our 2025 interim emissions intensity reduction target one year early at the end of 20241, representing an approximately 50 percent reduction from our 2019 baseline. This provided an appropriate moment to reflect on learnings, the current state of the energy transition, and…
