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

Bank of Canada says rates will stay low for a long time.

The Bank of Canada left its key interest rate unchanged at 0.25% and says it is likely to remain at that level for at least two years as the economy gradually recovers from the coronavirus pandemic and measures to contain it.

Bank of Canada says rates will stay low for a long time.

Body found after fire in Langley, B.C.: RCMP

Police are investigating after a body was found in a wooded area on the boundary between Langley, B.C., and Surrey on Wednesday morning.

Body found after fire in Langley, B.C.: RCMP

Feds urged to review Alberta coal mine project

A lawyer at the centre of a lobbying effort to stop a coal mine from expanding in Alberta says the federal government's refusal to do its own environmental review of the project is the ultimate in "climate hypocrisy."

Feds urged to review Alberta coal mine project

Proposed deal reached in B.C. foster care case

A proposed settlement agreement has been reached in the case of a British Columbia government guardian, who is alleged to have stolen hundreds of thousands of dollars from vulnerable foster children.

Proposed deal reached in B.C. foster care case

Charities awaiting word on $912M program

Non-profit groups that wanted to use Canada Student Services Grant to hire volunteers say they have not heard a peep from the federal government since WE Charity walked away from managing the $912-million program almost two weeks ago.

Charities awaiting word on $912M program

Huawei says Trump-China war hurting it, too

Huawei Canada says it is collateral damage in the Trump administration's trade war with China and remains hopeful that it might still be able to sell next-generation internet equipment to Canada.