Over the past few months ELFEC has been moving money into impact investments. These are defined as investments “made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return”.
After commissioning a study by an independent consulting group, the ELFEC board approved the investment of a total of $1 million, or about 3% of our total portfolio, in four organizations. All four investments will generate a financial return that compares favourably to our fixed income investments in financial markets. Two of these investments have been placed, while the other two are still in process.