Great Canadian ESG Championships

McConnell joins the Great Canadian ESG Championship: a $90M competition to identify Canada’s best approaches to responsible investing

We are excited to share that the McConnell Foundation has joined the first Great Canadian ESG Championship, where 60 investment managers across the country will battle to win part of a $90 Million ESG investment mandate.    

Driven by an increasing need for clarity in a booming responsible investment market, this public competition is designed to shine a light on the responsible investment choices available to Canadians, combat greenwashing and call for purpose-driven investment strategies and wise practices that meaningfully integrate ESG practices into fund management. 

According to Bloomberg, the global asset management industry earned $1.8 billion in fees from sustainable funds in 2021, up approximately 40% from the previous year. While asset managers have a strong incentive to promote ESG offerings, investors are finding it increasingly difficult to assess and compare quality. 

Inspired by a similar event in the UK, we are pleased to join the Trottier Family Foundation and seven other co-investors (the Concordia University Foundation, the Skagit Environmental Endowment Commission, the Foundation of Greater Montreal, the Sitka Foundation, the Consecon Foundation and two private trusts), to invest a total of $90M with asset managers who demonstrate the most robust ESG investment approaches within three asset classes: equity and/ or fixed income, alternatives, and multi-asset.  

ESG and finance experts, Millani and Normandin Beaudry, have signed on to independently verify the selection process. We are pleased to share that the following fund managers have been short-listed to participate in the competition: 
ESG championship logo and a man kneeling on the earth gardening, illustration with windmill and recycling box in the background.
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

Winners will be awarded in the fall once formal due diligence is completed. Co-investors will also compile the lessons of this competition into a “State of the Industry” report, highlighting opportunities to increase transparency and credibility in the ESG fund management market.

Click below to learn more and subscribe for updates to follow the competition.  Use #ESGChampionship to follow along on social media.

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