CDPQ has released its 2024 annual report, titled Investing for Future Generations, providing a detailed overview of its operations and financial performance for the year ended Dec. 31, 2024.

The report builds on financial results published in February and outlines the organisation’s investment activities, governance practices and regional commitments.

The report outlines CDPQ’s investment activity in Quebec, including efforts to support business expansion and regional economic initiatives. It also features updates on governance, with reporting from the board and its committees, covering audit, ethics, investment and risk oversight, human resources, executive compensation and compliance.

The report also highlights CDPQ’s broader investment strategy and approach to long-term capital deployment in Quebec and internationally.

CDPQ recently announced plans to sell more than 2 million common shares of WSP Global. The transaction, disclosed last April 24, represents approximately 1.6% of WSP’s outstanding shares.

The shares are being sold through a block trade managed by BMO Capital Markets and National Bank Financial for $242.70 per share, with gross proceeds estimated at $500 million. CDPQ will continue to hold a 14.2% stake in WSP following the transaction.

Internationally, CDPQ has expanded its presence in Brazil’s energy sector. Through its subsidiary Verene Energia, the organisation agreed in April to acquire Equatorial Transmissão from Equatorial Energia. The transaction, valued at up to 9.4 billion reais (roughly $1.61 billion), adds to CDPQ’s infrastructure portfolio in Latin America.

In Canada, CDPQ Infra is part of the Cadence consortium selected to advance the Alto high-speed rail project, intended to improve transportation links between Toronto and Quebec City. The project includes responsibilities for design, construction, financing, and long-term operations.