UVic Foundation expands impact investment with $25 million in Brookfield Global Transition Fund

The University of Victoria Foundation (Foundation) announced today it has invested $25 million in the Brookfield Global Transition Fund (BGTF) with a strategy to invest in infrastructure projects around the world that contribute to the transition to a net-zero global economy. 

This new commitment is an infrastructure investment within the Foundation’s statement of investment policy and goals and is consistent with the target to reduce the carbon intensity of all investments by 45 per cent by 2030 as stated in the new Responsible Investment Policy that was announced on Nov. 17, 2021.

“The Foundation Board continues to look for new impact investment opportunities that meet the dual goals of implementing decarbonisation strategies and providing strong risk-adjusted performance,” says Mary Garden, board chair of the University of Victoria Foundation. “The BGTF is well aligned with those goals and we look forward to working on this impact investment strategy as part of our long-term commitment to support the University of Victoria’s priorities including research, academic programs, student scholarships, awards and bursaries.”

The Brookfield Global Transition Fund is managed by Brookfield Asset Management Inc. This fund has three key investment themes: business transformation, clean energy and sustainable solutions. BGTF will measure the carbon emissions avoided by its investments and will report metrics aligned with the United Nations Sustainable Development Goals (SDGs).  

The Foundation is responsible for managing more than $560 million in assets (as of Dec. 31, 2021) and administering over 1,400 endowment funds that disburse more than $17 million annually to the University of Victoria. It has been a signatory of the United Nations-sponsored Principles of Responsible Investing since 2015.

The University of Victoria Foundation is a separate legal entity from the University of Victoria, which has itself adopted a responsible investment policy that aims to lower carbon emissions in the university’s capital working fund.

--30--