EDMONTON – The Alberta Investment Management Corp. has set up a new $1-billion fund dedicated to investing in the global energy transition and decarbonization sectors.
The investment manager says the money represents new capital and investments made through the fund will be in addition to its other climate-related investments across asset classes.
AIMCo chief investment officer Marlene Puffer says it has been strategically evaluating climate change risks and opportunities for the last decade and the organization has a strong track record of making investments in the energy transition space.
AIMCo says the new fund will look to offer exposure to a range of energy transition opportunities such as industrial decarbonization, carbon capture and sequestration.
Other areas could include renewable fuels, low-carbon renewable energy production and related technologies and electrification, storage and energy efficiency.
AIMCo invests on behalf of pension, endowment, insurance and government funds in Alberta and has more than $158 billion in assets under management.
This report by The Canadian Press was first published Feb. 1, 2024.