VP is pleased to be in the vanguard of the $60 trillion investment the UN estimates the world needs to reach net-zero target by 2050
IG Wealth Management, of Winnipeg, has launched its first climate action funds and is pleased to be in the vanguard of the $60 trillion in investment that the United Nations Climate Environment Program estimates will be needed by 2050 to transform the global infrastructure to support a sustainable future.
“We’re all seeing that the real need to take action around climate action is strong,” Todd Asman, IG’s Executive Vice-President of Products and Financial Planning, told Wealth Professional on launching the fund. “So, we think there’s a tremendous opportunity to do that and be on the side of supporting the transition to lower the carbon economy.”
IG Wealth Management, founded in 1926, is part of IGM Financial Inc. IG has 30 years of sustainable investing experience and $114 billion in assets.
While there has been some rapid movement in the Environmental, Social, Governmental (ESG) space with the launch of a couple of climate change funds, Asman said, “we think we’re actually at the front end of it in terms of our focus on a climate portfolio.”
IG introduced four portfolios today – IG Climate Action Portfolio-Global Fixed Income Balanced, IG Climate Action Portfolio – Global Neutral Balanced, IG Climate Action Portfolio – Global Equity Balanced, and IG Climate Action Portfolio – Global Equity. It has worked with global asset managers to develop a complete suite that covers the risk spectrum and protects capital, while providing income, so it doesn’t expect to launch more funds.
Asman said the funds will provide clients with a new way to support the world’s transition to net zero emissions and take advantage of the growth opportunities in it. IG will purchase offsets for any carbon in the portfolios.
“We’ve certainly been hearing from our clients that they want to invest in a way that helps, too, and I would say that there’s a growing awareness of the need in this space,” said Asman. “The institutional investors have been leading and I think we’re bringing the institutional capabilities to the retail market, and we’re excited about that.”
