Team & Partners

A team of passionate individuals who are deeply committed to making a meaningful impact in the fight against climate change.  

Our experts, who have decades of combined experience in carbon markets and sustainability, have built  a proven track record of successful projects across the continent. 

OUR PARTNERS

Fondaction Asset management (FAM) is an impact-driven manager that creates and delivers innovative, high-performance financial solutions to solve major environmental and social issues, generating competitive returns. 

As a subsidiary of Fondaction, FAM channels large-scale capital into high-potential impact sectors, accelerating the profound and sustainable transformation of the economy. FAM currently manages fund platforms totalling over $455 million in areas such as energy transition, natural capital protection, environmental markets, and the circular economy. 

A forerunner for over 25 years, Fondaction is the investment fund for individuals and companies that are mobilizing for the positive transformation of Quebec’s economy, making it more equitable, inclusive, green and successful. As a labour-sponsored fund created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of companies committed to helping Quebec progress. It manages more than $3.99B in net assets, as at November 30, 2024, invested in hundreds of businesses and on the financial markets, prioritizing investments that generate positive economic, social and environmental spinoffs in addition to a financial return. Fondaction helps maintain and create jobs, reduce inequalities and combat climate change.

Priori-T Capital develops alternative investment solutions aimed at fighting climate change. The company builds on the experience of its managers who, since 2017, have made private investments in partnership with in various climate change projects, including the fund platform. Today, it aims to create an ecosystem that provides investors with investment opportunities that are carbon market driven and offer entrepreneurs access to capital to build a greener economy.

TEAM

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.

David Moffat
Managing Director

MBA (Harvard), MES (Yale)

Étienne has over 25 years’ experience in investment and sustainability in the energy and infrastructure sectors. As Vice-President, Asset Management and Investment Strategy at SNC-Lavalin (AtkinsRéalis), he was responsible for managing an important international investment portfolio. Prior to joining Inlandsis, Étienne was a partner at EY, where he developed innovative financial solutions to support the energy transition. Étienne holds a bachelor’s degree in Bioresource Engineering from McGill University and is also a CFA charterholder. He sees the carbon market as a key lever for both financing companies’ decarbonization projects and positioning them favourably for the transition.

Étienne Lavoie-Gagnon
Managing Director

CPA

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.

Jamie Callendar
Managing Director

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

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.

Nathaniel Lambert, CFA
Senior Associate

B.Eng. (McGill), Minor Finance

Florence completed a bachelor’s degree in economics and a master’s degree in finance at the Université de Sherbrooke. Before joining the Inlandsis team, Florence began her career at the Caisse de dépôt et placement du Québec in the private asset valuation team.

Florence Vanier
Junior Analyst

MSc. Finance

STRATEGIC ADVISORS

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.

Jean-Philippe Brisson

Partner, Latham & Watkins

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.

David Heurtel

Partner, Fasken
Former Québec Minister of Environment

Donna is cofounder of Calyx Global, a carbon credit rating agency. She has over two decades working on climate change policy and climate finance. Donna was formerly at the State Department where, among other duties, she served as a climate change negotiator for the United States. Thereafter, she served as an advisor to governments, philanthropies and companies seeking to take climate action. She now leads Calyx Global, which provides information on the quality of carbon credits to companies and carbon market actors.

Donna Lee

Co-Founder, Calyx Global

BOARD OF DIRECTORS

Philippe Crête has more than 17 years of experience in the field of climate finance and natural capital. As a Managing Director at Fondaction Asset Management, Philippe 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.

Philippe Crête

Investment Managing Director, Fondaction Asset Management

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-François Babin

CEO & Co-Founder, Priori-T Capital

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.

Hélène Jacques

Former VP, Caisse de Dépôt et Placement du Québec

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.

Charles Gagné

President, Priori-T Capital

CFO at Fondaction Asset Management (FGA), Natalya Novikov has over 12 years’ experience in finance. She oversees FGA’s financial, accounting, administrative and tax affairs. She is also responsible for the financial and extra-financial reporting of the group’s entities and their financing platforms to investors. After holding a position as Corporate Controller at Cycle Capital, Natalya Novikov was promoted to Partner and CFO within this organization, and concurrently held the same position for the Cycle Momentum subsidiary. She has also worked as an auditor and business valuator for MNP, an accounting, consulting and tax services firm, having previously worked for Statistics Canada and the Canada Revenue Agency. A member of the Ordre des Comptables professionnels agréés du Québec since 2013 (CPA auditor, CA), Natalya holds a bachelor’s degree in finance from Concordia University and a graduate diploma in accounting from McGill University. She holds the Chartered Financial Analyst (CFA) designation and is a Certified Public Accountant (CPA, New Hampshire). She has worked part-time as an instructor in the CFA program.

Natalya Novikov

Chief Financial Officer, Fondaction Asset Management