Money in hands with leaf growing

All of the funds in the iA Clarington Inhance SRI suite are now fossil-fuel free, Toronto-based iA Clarington Investments Inc. said Tuesday.

The iA Clarington Inhance SRI lineup, subadvised by Vancouver-based Vancity Investment Management Ltd. (VCIM), consists of four standalone mutual funds and three all-in-one portfolio solutions.

The new fossil fuel mandate ensures that none of the stated funds will invest in oil, gas and coal producers, pipeline companies, natural gas distribution utilities or liquefied natural gas operations, the firm said in a release. 

The mandate is a continuation of an effort that began in 2015, when the portfolio management team divested from all fossil fuel and heavy oil producers in three other fund classes.

“Climate change is arguably the greatest challenge of our time, and VCIM believes investment decisions can meaningfully advance the goal of mitigating the most dangerous consequences of human interference in the climate system,” said Andrew Simpson, portfolio manager at VCIM, in a statement.