panorama with green house and windmill on white background

Foyston, Gordon & Payne Inc. (FGP) has launched the FGP Canadian Ex-Energy Equity Fund.

The Toronto-based investment firm, which caters to institutional and private wealth clients, said in a release that the new fund is designed for investors who seek long-term value without exposure to energy names.

“This fund replicates FGP’s flagship Canadian equity strategy, excluding investment in the energy sector. The new fund’s carbon intensity is 40% less than that of its benchmark, the S&P/TSX Composite Index,” the release said.

Bryan Pilsworth, president and CEO of FGP, noted that many investors are concerned “with high fossil fuel exposures and the resulting carbon intensity.”

In addition to launching a new fund that avoids investment in the energy sector, FGP has been active in setting “meaningful carbon intensity targets” for domestic energy companies, the release noted.

“We believe that every energy company should establish a credible path towards reducing carbon intensity with tangible mid-term goals and a long-term commitment in line with government policies,” Pilsworth said.