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

Toronto van attack suspect Minassian fantasized about mass murders: doctor

Dr. Rebecca Chauhan, who was hired by the defence, says Minassian was particularly interested in school shootings and would methodically read about them when he was in high school.

Toronto van attack suspect Minassian fantasized about mass murders: doctor

Vancouver Police looking for witnesses and dashcam video after pedestrian hit by car

The victim, a 29-year-old woman, was struck by a car near Grandview Highway and Renfrew Street on November 18 at 6:45 p.m.

Vancouver Police looking for witnesses and dashcam video after pedestrian hit by car

Cost to end RRIF withdrawal rule is $1B, PBO says

The Liberals shifted the marker this year, dropping the minimum for each senior by 25 per cent to ease concerns raised by the effect of the COVID-19 pandemic on financial investments.

Cost to end RRIF withdrawal rule is $1B, PBO says

Net-zero emissions target by 2050 to become law

The proposed legislation, Bill C-12, promises both transparency and accountability to get to net-zero emissions by 2050.

Net-zero emissions target by 2050 to become law

'Culture of the RCMP is toxic': independent report

"One of the key findings of this report is that the culture of the RCMP is toxic and tolerates misogynistic and homophobic attitudes amongst its leaders and members."