Q1: What is CPP Investments’ outlook for the Power & Renewables sector? Globally, electricity is the fastest-growing form of energy consumption, with new investment in generation expected to total $10 trillion by 2040. We track multiple investment themes. Now that renewable power investments are cost-competitive with coal and low-priced natural gas, many emerging markets can leapfrog into renewables, bypassing conventional energy production. Q2: How does CPP Investments’ portfolio benefit from a team dedicated specifically to Power & Renewables? Having a dedicated team enables us to effectively match CPP Investments’ capital with global investment opportunities created by transitions to lower-carbon energy sources. Our approach will translate CPP Investments’ comparative advantages – which include scale and a long-term investment horizon – to achieve better risk-adjusted returns. Q3: What are CPP Investments’ current strategies on Power & Renewables in established and emerging markets? Simply put: remain nimble. To generate the best portfolio, and risk-adjusted returns, we are flexible across geography, stage of investment (development, greenfield and operating), and technology type. Within that simple mandate, we focus on transparent, reliable markets that offer clear economic frameworks and established power markets.