Eleven finalists illustrate a rising tide of ESG sophistication among asset managers amidst continued waves of uncertainty
[Montreal, QC – May 11, 2022] – Today, the investors behind The Great Canadian ESG Championship revealed the list of finalists who will compete for a share of a $90 Million investment management mandate.
From a pool of sixty proposals, eleven candidates emerged as top competitors based on their ESG and financial performance scores, assessed by expert validators Millani and Normandin Beaudry respectively. The list includes some of Canada’s most well-established asset management firms as well as smaller and emerging groups.
On June 2nd the finalists will go head-to-head in a live event, where they will present and defend their proposals in front of a panel of responsible investment experts including Barbara Zvan, Andrea Moffat, Daniel Simard.
The finalists stood out for their ability to clearly communicate their ESG integration strategies, while demonstrating strong financial performance.
Jean-Grégoire Morand, Partner at Normandin Beaudry agrees. “Especially in the absence of common labels and frameworks, there are tough questions a paper process alone cannot answer. Chief among them is the question of how a firm’s ESG strategy equates to real-world impact,” says Morand. “The easiest thing firms can do is set up a negative screen to exclude risky ESG investments. It’s much harder to explain and demonstrate the value of impact investing.”
“Separating “the best” from “the rest” requires real conversations,” says Millani founder, Milla Craig. “We need to take a deeper dive, not only into the funds, but the firms as well. That’s why the next stage of the process—the public competition—is so critical. It will provide the opportunity to dig beneath the surface to determine which firms are the best match for the nine co-investors and the high ESG bar they have set.”
At the conclusion of the public competition, the expert panel will share their feedback for each asset category. Winners will be officially announced in September following a due diligence period. Visit www.esgchampionship.ca to register for the live event and to follow the competition.
List of Finalists
Category 1: Equity and Fixed income
- AlphaFixe Capital
- Lazard Asset Management
- MacKenzie Investments
- Schroders Investment Management
Category 2: Alternatives
- PenderFund Capital Management
- Portland Investment Counsel
- UBS Asset Management
Category 3: Multi-assets
- Fiera Capital
- Jarislowsky, Fraser Limited/Scotiabank
- Rally Assets
- RBC Global Asset Management/PH&N Institutional
About The Great Canadian ESG Championship
Inspired by the UK’s “ESG Investing Olympics,” nine Canadian co-investors (Trottier Family Foundation, the Concordia University Foundation, the Skagit Environmental Endowment Commission, the Foundation of Greater Montreal, the Sitka Foundation, the Consecon Foundation, the McConnell Foundation and two private trusts), have put forward $90M to invest with asset managers who demonstrate the most robust ESG investment approaches within three asset classes: equity and/ or fixed income, alternatives, and multi-asset.