The Globe and Mail reports in its Wednesday edition that Quebec's Caisse pension fund is reaching its targets to cut carbon emissions from its $434-billion investment portfolio years ahead of schedule, but much of the hardest work is still to come. The Globe's James Bradshaw writes that the Caisse said in its annual sustainability report that it has cut the intensity of carbon emissions from its investment portfolio by 59 per cent since 2017. That puts it just shy of a 60-per-cent reduction it aims to achieve by 2030. The Caisse's portfolio also now includes $53-billion in low-carbon assets -- greener investments such as renewable energy, sustainable transportation and low-carbon buildings -- which puts it ahead of schedule to reach a goal of $54-billion by 2025. The Caisse's decision to stop investing in coal mining and oil production could find itself the target of a political backlash against environmental, social and governance policies, led by vocal politicians in parts of the United States, where the Caisse has 38 per cent of its investments. TD Bank and BMO have lately been caught up in efforts by West Virginia's State Treasurer to boycott financial institutions taking a stand against lending to coal projects.