The information contained herein was obtained from sources we believe to be reliable, but is not guaranteed by us and may be incomplete. The opinions expressed are based on our analysis and interpretation of this information and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. The opinions expressed herein are those of the author and do not necessarily reflect those of National Bank Financial.
The securities or investment sectors mentioned herein are not suitable for all types of investors. Please consult your investment advisor to verify whether the securities or sectors suit your investor's profile as well as to obtain complete information, including the main risk factors, regarding those securities or sectors. This document is not a research analysis produced by the Research Department of National Bank Financial.
National Bank Financial is a subsidiary of National Bank of Canada. National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX). |
The end of a chapter
March 23, 2021 by Jean Turpin
By Jean Turpin, Portfolio Manager, Senior Vice-President
It is with not without a little nostalgia, but mostly with a lot of
pride, that we are selling our last company in the fossil energy
sector. Despite Enbridge still being a very good company, our desire
to engage in an environmental shift takes precedence. As you know,
we have been planning this change for some time but, knowing that
you give us your money to make it grow, we could not orchestrate
this shift without there being a financial incentive for all our clients.
A win-win situation!
We are selling Enbridge to purchase a company - a renewable energy company! Recent meteorological events have affected the share price of some companies, which means we have managed to integrate some Innergex Renewable Energy securities at an attractive price in both the medium and long term.
The work continues…
While we have done a major clear-out of securities directly involved in fossil energies, it would be dishonest not to mention the indirect involvement of some companies in the sector. For example, Couche-Tard (Circle K) draws a portion of its revenues from the sale of fuel for road transportation – an activity that will self-transform soon enough. We are aware that other companies may be indirectly involved in this sector and we intend to continue this cleanup. Just as we did in the case of Enbridge , we will continue this shift in a socially and financially responsible way.
