Foundation capital

UVic News – University of Victoria

The University of Victoria Foundation announced today that it has invested $25 million in the Brookfield Global Transition Fund (BGTF) with a strategy to invest in opportunities that advance and facilitate the global transition to a net zero carbon economy.

This new commitment is an investment in infrastructure within the framework of the foundation’s statement of investment policy and objectives and is in line with the goal of reducing the carbon intensity of all investments by 45% by by 2030, as outlined in the new responsible investment policy announced by the foundation. on November 17, 2021.

“The foundation’s board continues to seek out new impact investing opportunities that meet the dual goals of executing decarbonization strategies and delivering strong risk-adjusted performance,” says Mary Garden, Board Chair of administration of the UVic Foundation.

“The BGTF strategy is well aligned with our goals and we look forward to working on this impact investing strategy as part of our long-term commitment to supporting University of Victoria priorities including research, academic programs, scholarships, awards and fellowships.

BGTF is managed by Brookfield Asset Management Inc. This fund will pursue three main investment themes: business transformation, clean energy and sustainable solutions. BGTF will drive decarbonization with transparent measurable metrics by tracking avoided and reduced carbon emissions, as well as other impact metrics, and report on metrics aligned with the United Nations Sustainable Development Goals.

The UVic Foundation is responsible for managing over $560 million in assets as of December 31, 2021 and administering over 1,400 endowment funds that disburse over $17 million annually to UVic. It has been a signatory to the United Nations Principles for Responsible Investment since 2015.

The foundation is a separate legal entity from the University of Victoria which itself has adopted a responsible investment policy aimed at reducing carbon emissions in the university’s working capital.

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Jennifer Kwan (University Communications + Marketing) at 250-721-7641 or [email protected]