About Inlandsis - Inlandsis Fund
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About Inlandsis

The Inlandsis Fund was established by Fondaction and Coop Carbone in 2017 with a shared commitment to harness markets to address climate change. The Fund was initially capitalized exclusively by Fondaction. In July 2019, Fonds d’investissements LLC joined as an investor, and it’s affiliate, Prior-T Capital, also became a partner in 2021.

Inlandsis is the first Canadian fund, and one of a handful globally, that exclusively finances carbon emission reductions. Inlandsis is active in multiple carbon markets, including low carbon fuel standard programs, in North America. Our growing portfolio includes over 30 projects.

OUR PARTNERS

A forerunner in sustainable finance for the past 25 years, Fondaction brings together individuals that are mobilizing for the positive transformation of society, taking action to make Québec’s economy more equitable, inclusive, green and successful. As a laboursponsored fund, Fondaction represents tens of thousands of savers and hundreds of companies committed to helping Québec progress. It manages net assets of more than $2.96 billion invested in hundreds of businesses and in financial markets, prioritizing investments that generate positive economic, social and environmental impacts in addition to a financial return. Fondaction helps create and maintain quality jobs, reduce inequalities and fight climate change.

Priori-T Capital was born out of the desire to help investors diversify their portfolio through alternative investment solutions not correlated to traditional assets. By making climate-focused private equity more accessible, Priori-T creates new sources of growth and enables their clients to have a direct impact on climate change.

OUR TEAM

David Moffat – Managing Director

MBA (Harvard), MES (Yale)

David has 20 years of leadership in environmental markets. At Pacific Carbon Trust, David managed one of the largest carbon portfolios at that time in North America. Previously, he managed commercialization of clean technologies at DEKA R&D Corp. He has also structured conservation real estate transactions for The Nature Conservancy. Earlier, David founded and led an NGO in Africa, and managed development projects for the World Bank. He has a Masters of Environmental Management from Yale and an MBA from Harvard.

Jamie Callendar – Managing Director

P.Eng. (Alberta), BASc. (Waterloo)

Jamie is an environmental engineer with more than 15 years of experience in developing, financing and implementing GHG reduction and environmental technology projects. Previously, at Encana Corporation, Jamie managed $35 million of investments under the Encana Environmental Innovation Fund and developed 70 offset projects. Prior to Encana, Jamie was the Director of Technical Services at Blue Source Canada. He is also a past Chair of the PTAC TEREE Committee and the Natural Resources Canada CIPEC Task Force Council Chair for the Upstream Oil and Gas sector.

Mark Netto – Managing Director

CPA

Mark has more than 20 years of experience in senior leadership positions in finance. Most recently Mark led the project finance team at Enerkem Inc., a waste-to-energy company, and was instrumental in securing $150M in additional funding for its first commercial facility. Prior to Enerkem, he served in various capacities at Wavesat Semi-Conductors, IR Photonics and LX Data Fiber Optics.  He started his career at KPMG.

Nathaniel Lambert, CFA – Senior Investment Analyst

B.Eng. (McGill), Minor Finance

Nathaniel studied Bioresource Engineering at McGill University and finance at the Desautels Faculty of Management. He began his career in commercial banking as a credit analyst in the agricultural sector. At TD Bank he co-managed a $200 million loan portfolio and underwrote over $100 million in gross new borrowings. Nathaniel is a CFA charterholder.

OUR ADVISORS

Jack MacDonald

Special Advisor

Former CFO, EcoSecurities

Jack is a finance and commercial professional with over 20 years of international experience developing clean energy and emission reduction related businesses. He was CFO and Commercial Director of EcoSecurities, the world’s largest carbon credit company, where he led the IPO on the London AIM and the sale of the company to JP Morgan. Previously, Jack was a trader at Sprott Securities (now Cormark) where he marketed and executed secondary placements and equity trades for high growth companies.

David Heurtel

Partner, Fasken

Former Québec Minister of Environment

David Heurtel currently holds the position of counsel in the Environment, Energy and Climate Change Group at Fasken. He previously served as Quebec’s Minister of Sustainable Development, Environment and the Fight against Climate Change from 2014 to 2017. In that role, he took the lead in modernizing the Environment Quality Act (EQA) and adopting the Water Withdrawal and Protection Regulation (WWPR). He also spearheaded the Politique de protection des sols et de réhabilitation des terrains contaminés and the 2017–2021 action plan under that policy.

Debra Alves

Former CEO, CBC Pension Fund

Debra Alves has a wealth of experience as a senior executive in finance and investment management.  Most recently she served for eleven years as the CEO of the CBC Pension Plan responsible for the investment management of $7 billion of assets across all asset classes.  Prior to that she was a portfolio manager investing in private equity, infrastructure and bonds for various public sector institutional investors.  Her experience includes risk management and operational oversight with a particular focus on corporate governance.  Debra holds CFA and ICD.D designations.

Hélène Jacques

Former VP, Caisse de Dépôt et Placement du Québec

Hélène Jacques is a corporate director and strategy consultant with more than 30 years of experience in the financial sector. She helped launch three companies in various sectors including two related to environmental issues. Certified Corporate Director (ASC) and Chartered Director (C.Dir.), Ms. Jacques has more than 10 years of board experience. Hélène holds an MBA from HEC Montréal and is pursuing graduate studies on climate change.

Jean-François Babin

CEO & Cofounder, Priori-T Capital

Jean-François has more than 30 years of experience in the financial sector. Before co-founding Priori-T Capital, he was Executive Vice-President and Managing Director at National Bank Financial where he was responsible for sales and trading activities for the fixed income, currencies and commodities businesses. Previously he also held various positions in the derivatives sector at CIBC, Bankers Trust and Crédit Lyonnais in New York. In addition to his professional activities, he served as Co-Governor of National Bank’s United Way Centraide Campaign and as a Member of the Major Donors United Way Centraide Campaign Committee of Greater Montreal.

Jean-Philippe Brisson

Partner, Latham & Watkins

Jean-Philippe, a leading environmental lawyer, is a partner in Latham and Watkins Environmental, Land & Resources Department and Co-chair of its Air Quality & Climate Change Practice. He has more than 15 years of experience advising oil and gas, industrial, and financial institution clients on a wide range of energy and environmental matters, including carbon finance, renewable energy, and commodities. Mr. Brisson was previously Vice President in Goldman Sachs’ Global Commodities business where he helped establish Goldman’s US carbon trading desk and worked on a number of private equity transactions.

Richard Bordeleau

Broker, Vitol

Richard is an experienced energy trading and operations executive with over 22 years in the power and renewable energy industries during which he arranged and structured several hundreds of millions of dollars in long-term renewable power contracts and structured transactions. As Chief Portfolio Officer and Senior VP of Trading and Marketing with Brookfield Renewable Power, he oversaw the company’s gas co-generation, wind, hydro and pump storage power businesses. Richard previously has commercial roles at PG&E’s National Energy Group and at Hydro-Quebec. At Vitol, he now leads a new Canadian division focusing on electrical physical trading, asset management & optimization, structured transactions and arbitrage strategies.

Rob Roberti

CFO, Solar Alliance

Rob is an experienced finance and operations executive with over 25 years in the power and finance industries. Previously, Rob served as the CFO of Cordelio Power, an independent power producer that develops, owns and manages renewable power facilities across North America. As Senior VP, Power Generation with Capstone Infrastructure Corporation, Rob oversaw the company’s gas co-generation, wind, hydro, biomass and solar power businesses. Rob also served as the CFO and Treasurer of the Clean Power Income Fund and Manager of Finance & Development for Probyn & Company. Rob has advised the Clean Power Income Fund, The Ontario Power Authority and renewable energy developers. He also arranged and placed several hundreds of millions of dollars in project finance.

Philippe Crête

Philippe Crête

Principal investment advisor,  Fondaction

Philippe Crête has more than 16 years of experience in the field of climate finance and natural capital. At Fondaction, he holds the role of Principal investment advisor within the alternative private investment team, where he develops, raises and manages investment funds in the sectors of climate change, natural capital and environmental commodities. Previously, he worked for seven years for the Food and Agriculture Organization of the United Nations (FAO), where he acted as regional coordinator for Africa for the UN-REDD programme and climate finance expert. In these positions, he developed and managed numerous development projects in the environmental sector, with a particular emphasis on the development of innovative financial mechanisms to reduce deforestation and promote sustainable land management. Before joining FAO, Philippe Crête was a partner and deputy director of the brokerage and consulting firm ÉcoRessources, now known as Coop Carbone, where he was responsible for sourcing and trading carbon offsets on global carbon markets, as well as for developing climate change projects and emission reduction strategies for large emitters. Philippe Crête holds a bachelor’s degree in international development studies and economics and a master’s degree in bioresource engineering from McGill University.

Charles Gagné

Charles Gagné

Chef des opérations et associé, Priori-T

Charles has a long track record in the financial markets, particularly in market monitoring, trading, information technology and operations. Before joining Priori-T Capital, he was Chief Operating Officer for the asset management firm Hexavest for more than 11 years. He also held management positions in Derivatives Operations at National Bank Financial from 1998 to 2010. Charles holds a Bachelor of Business Administration from the Université de Sherbrooke and a Master of Business Administration from the Université du Québec à Montréal, as well as the FICB designation from the Institute of Canadian Bankers (2006). He has also completed the Canadian Securities Course, the Derivatives Fundamentals Course and the Partners, Directors and Senior Officers Course offered by the Canadian Securities Institute.