Evan Siddall says AIMCo wants to be a leader in financing the transition to a low-carbon economy, but it won't do that by divesting from fossil fuels as some global pension funds have done.
Instead, Siddall says AIMCo will be exploring opportunities to invest in oil and gas companies and other heavy industrial emitters. He says heavy emitting companies are developing plans to lower, though not eliminate, their greenhouse gas footprints and will need capital to implement those plans. Siddall says investing in the oil and gas sector's decarbonization efforts will help Canada achieve its climate targets and generate strong returns for investors.
AIMCo is one of Canada's largest institutional investment managers, responsible for the investments of pension, endowment and government funds in Alberta. As of Dec. 31, 2021, it had $168.3 billion of assets under management.
From the same company that has lost millions?