Request for Proposals: GHG emissions accounting and analysis

We are seeking consulting services to execute a GHG emissions accounting and analysis of our investment portfolio in 2023, and provide recommendations to improve our methodology and our Climate Action Plan, as part of our commitment to Net Zero by 2050. 



About the Foundation

The McConnell Foundation is a private Canadian philanthropic foundation that contributes to diverse and innovative approaches to address community resilience, reconciliation, and climate change. We do so through funding and investment partnerships, strengthening capabilities, convening, and collaborating with the public, private and non-profit sectors. 


Background and context

In 2021, McConnell ran a first baseline assessment of its investment portfolio emissions for the calendar year 2020.  

In June 2023, the Foundation released its Climate Action Plan, publicly committing to the goal of net zero GHG emissions in its investment portfolio by 2050.  

The Climate Action Plan aligns with the Paris Agreement, the international treaty to limit global warming to 1.5 degree C above pre-industrial levels. It also commits to prioritizing real economy emissions reductions and a Just Transition. We define the Just Transition as a principle, process, and practice. The principle of just transition is that a healthy economy and a clean environment can, and should, co-exist. The process for achieving this vision should be a fair one; it should not cost workers their jobs, nor adversely impact the health, environment, or economic assets of communities. And the practice of just transition means that the people who are most affected by pollution should be leading the crafting of policy solutions. Finally, the Climate Action Plan identifies 4 strategies – (1) Assess, (2) Invest, (3) Steward and (4) Communicate – that should be taken into consideration. 


Summary of the project

We are seeking the services of a provider, specialist in climate and asset management, who can: 

  • compile the absolute GHG emissions of our portfolio across asset classes via access to datasets and best-in-class methodologies and proxies; 
  • analyse the findings by sector, sub-sectors, and asset classes through improved methodologies and compare to the 2020 baseline, and; 
  • provide recommendations for accelerating our path to net zero. 


Scope of work

Our portfolio includes public assets and private assets across asset classes. For public assets, we are looking for a consultant who has access to world-leading and granular datasets. 

For private assets, we expect the consultant(s) to: 

  1. critically review GHG emissions reporting done by our private fund managers (when it exists); 
  2. provide recommendations for engagement with a selected set of private fund managers with the most material GHG emissions; 
  3. use relevant proxies when data is not satisfactory, clearly explaining resulting biases or skewness (if applicable). 

Following this initial GHG emissions computation phase, we expect the consultant to: 

  • Analyze and explain the evolution of GHG emissions from 2020 to 2023. 
  • Provide recommendations on accelerating real economy GHG emissions reductions and furthering the Just Transition, by asset class and sector.  



The consultant is expected to: 

  • Compile McConnell’s portfolio (Scope 1, Scope II and wherever possible and credible, Scope III) absolute GHG emissions for 2023* calendar year, being transparent and critical about assumptions and levels of confidence (excel table format and presentation format). 
  • Provide analysis and recommendations on how to reduce real-world GHG emissions moving forward, contribute to a Just Transition and revise McConnell Climate Action Plan accordingly. 
  • Present recommendations and results to the McConnell team

*Optional: compile absolute GHG emissions (Scope I and II) for 2022 and 2021 calendar years.


How to apply

If you wish to be considered for this RFP, please send an expression of interest of up to four pages, excluding appendices and CVs, no later than January 9th, 2024, to: 

Preference will be given to consultants who:  

  1. Strive to reduce real world emissions and facilitate a Just Transition; 
  2. Are data-driven and at-ease with large datasets; 
  3. Position themselves as critical thinker and thought partner for the McConnell team, ensuring the methodology, assumptions and trade-offs are well understood and could be carried forward by McConnell; 
  4. Have demonstrated experience and thought leadership in carbon and GHG emissions accounting, specifically for institutional asset owners; 
  5. Can address the full scope of the mandate outlined in this request for proposals; 
  6. Preference will be given to consultants with some prior experience within Canada and with smaller and nonprofit or social-purpose organizations. 

The expression of interest should include a detailed budget, including anticipated time required, rates, relevant previous experience, methodologies and frameworks you might use, and the Curriculum Vitae of the consultant(s) who will be responsible for the mandate. Please note that we intend to share the research provided through this RFP publicly and with our partners.   

Interviews will be conducted with a short-list of applicants. The successful consultant will be chosen by end of January 2024 to start work with a target completion date by early May 2024.



Our work environment and selection process is inclusive and accessible to anyone with unique needs in terms of accessibility and accommodations. If you require any accommodation in the selection process, please email  so that we can create the necessary conditions so that you can participate fully. All information received in relation to accommodation will be kept confidential.