Canada's Stonebridge Financial topped three categories in this year's Sustainable Investment Awards.
Named the judges' choice for Best sustainability reporting by a fixed income-focused, small- or medium-sized asset manager, Stonebridge stood out for its inaugural sustainability report.
Completed earlier this year with support from leading consultants, the report provided investors with a comprehensive analysis of projects financed and their impact on local communities and the environment, including jobs created and emissions avoided.
Judges praised its "strong sustainability report with good evidence of ESG investments" and "pioneering solutions with examples illustrating impact".
Stonebridge also won the Infrastructure fund of the year award after closing its second infrastructure debt fund late last year, Stonebridge Infrastructure Debt Fund II (SIDF II). Focused on private debt investments across social infrastructure and sustainable energy, the fund raised CAD617 million ($450 million) in commitments – more than three times the size of its initial fund, SIDF I. The firm plans to launch its third fund later in 2025, with a CAD1 billion target.
And finally, Stonebridge Financial was also named Boutique investment manager of the year, Americas, in recognition of not only its merits over the past year but also its track record in sustainable finance over the last 25 years, which includes leadership in fostering economic empowerment for Indigenous communities through projects and partnerships.
Among the firm's recent transactions, Stonebridge became the first lender in Canada to provide financing for a Clean Technology Investment Tax Credit (ITC) loan in May 2024. Modelled on the US ITC program, the Canadian government programme is a refundable tax credit intended to encourage investment in clean projects. It has since completed two additional ITC-backed loans.
In December, Stonebridge financed PHP Wind, a CAD450 million project which will be the largest wind farm in Atlantic Canada, developed by Port Hawkesbury Paper. Once complete next year, it will generate up to 168MW, adding 25% to the province's current wind power capacity.
"It's impressive to have provided sustainable financing over a long period of time while being considerate of the indigenous community," said a Sustainable Investment Awards judge.
