In Short

• UPP files a shareholder proposal urging Alimentation Couche-Tard to set mid-term Scope 1 and 2 emissions targets and address Scope 3 emissions.
• The pension plan says unmanaged climate risks could impact long-term shareholder value and wants targets based on international standards.
• Couche-Tard lags competitors like Costco, Metro, and Starbucks, which already have clear emissions-reduction strategies in place.

The University Pension Plan (UPP) has asked Alimentation Couche-Tard, a large Quebec-based retail company, to provide a clear and competitive emissions-reduction strategy.

UPP made this request through a shareholder proposal, supported by the Shareholder Association for Research and Education (SHARE). The goal is for Couche-Tard to match or keep pace with its competitors in addressing climate risks.

The proposal calls for the company to set mid-term targets for cutting Scope 1 and Scope 2 greenhouse gas (GHG) emissions. Scope 1 covers emissions directly produced by the company, while Scope 2 covers those from the energy it consumes.

Read More: Climate Lawsuits Rising in Nearly 60 Countries, Says Report

UPP also wants Couche-Tard to present an approach for Scope 3 emissions, which come from its upstream and downstream supply chain — areas less directly controlled but still impactful.

UPP explained that unmanaged climate risks can create material financial risks for investors, especially those with a long-term investment horizon like pension funds. They believe that setting and disclosing emissions-reduction targets using an internationally recognised method would help protect long-term shareholder value.

According to SHARE, Couche-Tard is behind its peers, such as Costco, Empire, Metro, and Starbucks, which already have clear mid-term reduction targets for Scope 1 and 2 emissions. They argue that aligning with global standards will help the company manage risks effectively and give investors useful information to assess performance.

Also Read: How ESG Backlash Is Driving Climate Litigation Battles

UPP is the sole filer of the proposal, and it will be presented for a vote at Couche-Tard’s annual general meeting on September 3, 2025.

Ends/

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Source: UPP