HomeCarbon MarketsUBC Trust Commits $120M to Reduce Carbon

UBC Trust Commits $120M to Reduce Carbon

The University of British Columbia’s (UBC) Endowment Fund, the UBC Investment Management Trust (IMANT) has committed $120M to seed a Paris Aligned Reduced Carbon Global Equity fund.

This is in addition to their $110M funding of the Sustainable Global Opportunities Strategy that was announced in March.

UBC IMANT has partnered with Arrowstreet Capital to select MSCI’s Paris Aligned Index as the benchmark for their portfolio construction. Their seed in this investment accounts for about five percent of UBC’s Endowment. Their ‘Responsible Investing Strategy’ is committed to a low carbon, sustainable future, to reduce their carbon portfolio by 45% in 10 years.

As other companies follow UBC’s lead, many hope to achieve net-zero emissions by 2050. Some are finding ways to do so through carbon offsets. This is especially true as regulations from the Paris Agreement get closer – with many just a few short years away. Countless nations have even recommitted their efforts to reduce carbon since they recognize they aren’t where they should be.

“This significant investment demonstrates UBC IMANT’s targeted and ongoing approach to addressing the impacts of climate change,” says Yasir Mallick, Senior Portfolio Manager at UBC IMANT. “We are thankful to our investment partner for working with us to incorporate a carbon risk budget aligned with the 2015 Paris Climate agreement in their portfolio construction and optimization process.”

Dawn Jia, UBC IMANT’s President, and CEO said that “We seek out partners – both our peers and investment managers – that share this mindset and are willing to be innovative in tackling complex problems.”

When describing climate change, “complex” may be an understatement. Combating climate change is quite complex and challenging, to say the least!

The latest Groundswell report from the World Bank shows that mass migration due to climate change could start as early as 2030. And a recent announcement from the UN said that increases in the earth’s temperature would be “catastrophic.” Even top religious leaders have joined together to ask the world to take action.

Announcements, such as UBC’s, are what the world needs. To make an impact, all countries, companies, and individuals have to do their part. Slowly but surely, we are getting there.

Most Popular
LATEST CARBON NEWS

Lenovo Unveils 2050 Net Zero Goal, Enters Carbon Credits Deal

Lenovo has revealed its goal to reach net zero greenhouse gas (GHG) emissions by 2050, which the Science Based Targets initiative (SBTi) approves, and...

Voluntary Carbon Credits Market Can Be Worth $1 Trillion in 2037

The total value of carbon credits traded in the market to help entities achieve their net zero goals can be worth $1 trillion as...

Amazon to Start Trading Renewable Energy in India

Amazon received the green light from Indian authorities to start trading renewable energy sources in the country. After securing a category-III energy trading license,...

UK Considers £300M Climate Bailout of British Steel

The UK government is considering a plan to channel a £300 million ($372 million) climate package to help British Steel reduce its carbon emissions...
CARBON INVESTOR EDUCATION

Abandoned Oil Wells and Carbon Credits

You’ve probably seen dozens of pictures before that look exactly like the one above. An active oil field littered with pumpjacks, all churning out oil...

Is Offsetting Carbon Worth It?

Is offsetting carbon worth it? This question has never been more controversial right now and it deserves a good answer, especially if you're into...

How Does Carbon Capture and Utilization Work?

Carbon capture and utilization technology is not only useful, but a necessary strategy to reduce atmospheric CO2 levels, and stall an increase in global...

Top 4 Carbon Stocks To Watch In 2023

Carbon stocks, credits and capture technology are getting a lot of interest from investors. Companies will attract even more capital in 2023.