91ÂãÁÄÊÓƵ

Skip to content
  1. Home
  2. Business

UBC Investment Management Trust invests $120M in reduced carbon investment fund

Assets represent about five per cent of UBC91ÂãÁÄÊÓƵ™s endowment
The Canadian Press
26549256_web1_20210920090952-614892033ad359c7161451c9jpeg
The UBC sign is pictured at the University of British Columbia in Vancouver, Tuesday, Apr. 23, 2019. THE CANADIAN PRESS/Jonathan Hayward

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 Columbia91ÂãÁÄÊÓƵ™s endowment fund.

UBC IMANT seeded the investment on June 30 with assets representing about five per cent of UBC91ÂãÁÄÊÓƵ™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 UBC91ÂãÁÄÊÓƵ™s endowment fund, staff pension plan, working capital and other investment portfolios.

91ÂãÁÄÊÓƵ”The Canadian Press

More Business

Kelowna's Lakehouse showroom closes its doors, moves into flagship store
Kelowna's Lakehouse showroom closes its doors, moves into flagship store
Ottawa orders binding arbitration to end port strikes
Ottawa orders binding arbitration to end port strikes
Feds urge both sides to 91ÂãÁÄÊÓƵ˜do the work91ÂãÁÄÊÓƵ™ to resolve B.C. port dispute
Feds urge both sides to 91ÂãÁÄÊÓƵ˜do the work91ÂãÁÄÊÓƵ™ to resolve B.C. port dispute
(or

91ÂãÁÄÊÓƵ

) document.head.appendChild(flippScript); window.flippxp = window.flippxp || {run: []}; window.flippxp.run.push(function() { window.flippxp.registerSlot("#flipp-ux-slot-ssdaw212", "Black Press Media Standard", 1281409, [312035]); }); }