Investments
Using our assets to create positive impact that aligns with our mission and vision.
Towards 100% impact
In 2024 we continued progress toward achieving our 100% impact investment portfolio by 2028, both from an investment perspective and a governance perspective. On the investments side of the ledger, we made new impact commitments in our infrastructure (Eiffel’s Energy Transition Fund 3 and Quinbrook’s Net Zero Power Fund) and fixed income portfolios (Addenda’s Impact Fixed Income Fund). We also began assessing impact investment opportunities in public equities — a first for the Foundation.
As for governance, we created an Impact Advisory Committee (a sub-committee of our Board) to advise our impact practices. Additionally, we undertook and completed an impact assessment by BlueMark, which awarded us top rating of Platinum in their Endowment Impact Benchmark, recognizing our robust impact management processes across a peer group of foundations and university endowments.
$12M
in cumulative capital deployed to Indigenous-led and/or majority owned companies and projects
These $12 million investments are part of our overall 2030 target of $45 million.
$40M
additional investments in climate solutions in 2024
Cumulatively, we have invested approximately $70 million in climate solutions. We hope to increase that amount to $150 million by 2030.
9,207
units of affordable housing funded by our investments
Affordable housing is central to our investment strategy, with a 2030 target of nearly 10,000 affordable units. Cumulatively, our portfolio has added 9,207 affordable units to the market.
350
Our target for 2030 is to have 350 social enterprises funded by our investments.
Our endowment as of year-end 2024
As of December 31, 2024, our endowment sat at $711 million. Of this, 28.4% ($202.2 million) of our assets are committed to impact investing. A further 23.45% ($166.7 million) can be classified as active responsible investing.
*5.06% of our endowment was allocated to charitable activities in 2024. Additionally, two capital transfers of $1 million each were allocated to the Indigenous Peoples Resilience Fund and Ulnooweg. One hundred percent of the portfolio is invested with targeted negative screens.
Impact investing
We added five impact investments to our portfolio in 2024, and exited one impact investment, for a total of 39 impact investments.
MRI: Mission Related Investments are financial investments made in either for-profit or non-profit funds to achieve mission-related objectives. They normally earn market-rate financial returns.
PRI: Program Related Investments are investments made in not-for-profit organizations and social funds to further the Foundation’s programmatic objectives and to generate financial returns, with a tolerance for below-market rates of return.
Building a sustainable future
The Fonds d'investissement de Montréal (FIM), coordinated by Bâtir son quartier, enables housing NGOs to acquire buildings to maintain long-term rental affordability and improve living conditions for households.
