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Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds

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  • Alexander D. Beath
  • Sebastien Betermier
  • Maaike Van Bragt
  • Yuedan Liu
  • Quentin Spehner

Abstract

This paper investigates the investment strategy that large Canadian pension funds implement in the private real estate market. Even though they manage just 6% of global pension assets in our data, Canadian pension funds are responsible for 60% of the total value of private real estate deals that directly involve a pension fund. A key component of their strategy consists of internally developing and greening urban properties in core downtown areas. Using a common benchmarking methodology across funds, we show that this impact strategy delivers superior performance net of fees and drives the green development of major city centers.

Suggested Citation

  • Alexander D. Beath & Sebastien Betermier & Maaike Van Bragt & Yuedan Liu & Quentin Spehner, 2022. "Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 14(1), pages 75-94, December.
    • Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:75-94
    DOI: 10.1080/19498276.2022.2125203
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