Enbridge Holdings Divested From IA Clarington Inhance SRI Funds
Vancouver, BC. Vancity advised today that, based on the US National Transportation Safety Board report on the Enbridge 2010 pipeline spill in Michigan, Enbridge no longer meets Vancity Investment Management’s environmental, social and governance (ESG) criteria for its socially responsible investments (SRIs).
As a result, Vancity Investment Management (VCIM) has divested its Enbridge holdings in the IA Clarington Inhance SRI funds which it manages. VCIM is a sub-advisor on three SRI funds for IA Clarington and determines which holdings are contained within the funds, based on the ESG criteria. Two of these funds previously contained Enbridge holdings.
“When you purchase the IA Clarington Inhance SRI funds, you are also investing in a disciplined process that considers ESG factors and financial analysis,” says Tamara Vrooman, President and CEO of Vancity. “Vancity Investment Management’s portfolio managers balance risk, return and the impact of all the investments that are made. They believe in engaging with companies to improve their ESG performance, however, if companies no longer meet the ESG criteria, they will divest the holdings from the portfolio.”
For more information on Vancity’s approach to please visit vancity.com.
About Vancity
At Vancity we make you good money by putting money to good. Our vision of redefining wealth incorporates personal and community well-being. We have distributed $221 million to members through dividends and to communities through grants and community investment initiatives since 1994. We are a member of the Global Alliance for Banking on Values—a network of the world’s leading sustainable banks sharing the commitment to achieving triple-bottom-line impact through responsible banking practices. We are A Living Wage employer and Canada’s largest community credit union, with $16.1 billion in assets, more than 479,500 members and 58 branches throughout Metro Vancouver, the Fraser Valley, Victoria and Squamish. www.vancity.com | @vancity.
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