Investments
We aim to use our investment assets to create positive impact that aligns with our mission and vision.
Setting the stage for 100% impact investing
Our investments team continue to lay the groundwork towards our goal of allocating 100% of our portfolio to impact investing by 2028. Process improvement is a priority going forward. This will allow us to better evaluate asset classes from an impact standpoint, enhance our impact management approach, and add expertise to our team.
Also in 2023, we made our first gender lens investment into the Cross-Border Women and Children’s Health Technology Fund and expanded our focus on the circular economy by investing in the Bridges Sustainable Growth Funds.
$9.2M
in investments benefitting Indigenous communities
We have invested over $9 million in funds aimed at benefiting Indigenous communities, which include eight Indigenous-led organizations.
$28.2M
invested in renewable energy
To date, we have invested over $28 million in climate solutions. We hope to increase that amount to $150 million by 2030.
7,880
affordable housing units funded by our investments
Affordable housing is a key part of our investment strategy. To date, 7,880 affordable units have been added to the market via our portfolio.
25%
investment in Canadian fund managers
Currently, 25% of our Mission Related Investments (MRI) fund managers are Canadian. We aim for a third of our MRI fund managers to be Canadian by 2030.
Our endowment as of year-end 2023
As of December 31, 2023, our endowment sits at $669 million. Just over 21% ($141.5 million) of our assets are committed to impact investing. A further 17% ($112 million) can be classified as active responsible investing.
*5.10% of our endowment was allocated to charitable activities in 2023. Additionally, a capital transfer of $5 million was allocated to the Indigenous Peoples Resilience Fund, the first payment of a commitment to transfer $30M million of the Foundation’s endowment to community-focused Indigenous-led foundations. One hundred percent of the portfolio is invested with targeted negative screens.
Impact investing
We added two impact investments to our portfolio in 2023, for a total of 35 investments.
MRI: Mission Related Investments are financial investments made in either for-profit or non-profit funds with the intent of achieving mission-related objectives. They normally earn market-rate financial returns.
PRI: Program Related Investments are investments made in not-for-profit organizations and social funds to further the Foundation’s programmatic objectives and to generate financial returns, with a tolerance for below-market rates of return.
Amplify Capital
Amplify Capital invests in early-stage Canadian startups developing solutions in the climate, education and healthcare spaces. The goal is to generate positive impact and superior financial returns.
$500,000 (2016), $5,000,000 (2022)
Using impact investing to tackle globally under-addressed challenges
“In this artwork, I wanted to represent a round dance. The circle in Nêhiyaw culture is very significant as it represents the medicine wheel, which has four colours on it. This represents the four directions, four seasons, four stages of life, etc. It represents a cycle that never ends. The round dance connects us as a community and often is a way to celebrate. At a round dance, anyone is invited; Indigenous and non-Indigenous. I wanted to show a round dance to symbolize that to invest in reconciliation, means to also be involved and invested in our community.”
- Bada Jean
Visit www.badajean.com to view more of Bada Jean’s artwork.