National

UBC IMANT invests $120M in reduced carbon fund

Darpan News Desk The Canadian Press, 20 Sep, 2021 09:33 AM

UBC Investment Management Trust Inc. says it is committing $120 million to a Paris Aligned reduced carbon global equity fund, on behalf of the University of British Columbia's endowment fund.

UBC IMANT seeded the investment on June 30 with assets representing about five per cent of UBC's endowment.

It says the investment reduces carbon intensity by 70 per cent relative to a cap weighted benchmark.

The move follows $110 million in funding for a sustainable global opportunities strategy in March.

UBC announced plans last year to divest the endowment of fossil fuel investments and a 45 per cent reduction of portfolio carbon emissions within 10 years.

UBC IMANT manages over $5 billion on behalf of the university and related entities, including UBC's endowment fund, staff pension plan, working capital and other investment portfolios.

Prev Next

MORE National ARTICLES

Save on Foods administers expired Astra Zeneca vaccine to customers

The vaccine given on the 5th of this month had an expiry date of April 2nd.

Save on Foods administers expired Astra Zeneca vaccine to customers

UVic, coach deny former rower's verbal abuse claim

In a response to the civil claim by Lily Copeland, Barney Williams and the university say the training environment during the 2018-19 season was not hostile and the coach's communication was always professional.

UVic, coach deny former rower's verbal abuse claim

Federal prison chaplains ratify first contract

The United Steelworkers union says the contract — the chaplains' first collective agreement — provides significant wage hikes for most employees, with pay increasing overall by nine per cent during the next year.

Federal prison chaplains ratify first contract

Variant cases to rise in B.C. into May: modelling

Jens von Bergmann says based on current vaccination projections, the number of new variant cases should continue to rise into next month

Variant cases to rise in B.C. into May: modelling

Kids less likely to transmit COVID-19 virus: study

Results showed that compared with adults, children were less likely to grow virus in culture and had lower viral concentrations, suggesting they are not the main drivers of transmission.