The Alberta Investment Management Corp. is setting up a new $1 billion fund to invest in energy transition and decarbonization efforts, according to a report by the Globe and Mail.
The new fund will specifically target industrial decarbonization, carbon capture, sustainable fuels, renewable energy production, electrification and energy storage and efficiency. However, the launch of the fund doesn’t mean the investment organization will divest from high carbon assets across its portfolios, the report noted.
“We’ve been working on this for some time in determining the right approach, really defining the parameters, looking at its risk profile, determining the strategy of how we’ll go about it,” said Marlene Puffer, chief investment officer at the AIMCo.
In other news, the Caisse de dépôt et placement du Québec is launching a US$1.5 billion aircraft financing and leasing platform alongside SMBC Aviation Capital.
Through the platform, the investment organization will deploy US$500 million capital per year, prioritizing opportunities involving fuel-efficient aircraft, according to a press release.
“Building on [the Caisse’s] experience in the aircraft financing industry, through this new platform, we will continue to provide flexible financing solutions for airlines to meet their future fleet requirements,” said Marc Cormier, executive vice-president and head of fixed income at the Caisse, in the release.
The Ontario Teachers’ Pension Plan is acquiring a portfolio of five assets in the French logistics market through a joint venture with Boreal IM.
The investment aligns with a mandate to target assets in supply-constrained locations where occupier demand remains strong, according to a press release, which noted the portfolio’s assets amount to 165,000 square metres. Financial details of the transaction weren’t disclosed.
“We now have the opportunity to work with a strong roster of tenants to implement ESG initiatives as we continue to build our best-in-class portfolio and create value through active asset management,” said Jenny Hammarlund, senior managing director of real estate at Ontario Teachers’, in the release.