Markets
TSX21,847.3▲ +0.42% MSCI ESG3,412.6▲ +0.51% Green Bond+0.18%▲ vs IG USD/CAD1.3641▼ −0.12% Carbon Futures$64.80▲ +1.4%
Clearwater Asset Management Investor Access
2025 Annual Sustainability Report

Capital allocation
with a thirty-year horizon

Clearwater manages $2.4 billion in endowment and foundation capital. Our sustainability framework integrates long-duration carbon, biodiversity, and governance factors alongside financial return metrics.

Download Report View Portfolio Data →
AUM
$2.4B
endowment + foundation
ESG Score
A+
MSCI 2025 rating
Carbon Intensity
−44%
vs 2019 baseline
10Y Net Return
8.4%
annualised, net of fees
Portfolio Allocation
Sustainable Asset Allocation — Clearwater Endowment Fund · Q1 2025
Asset Class Allocation ESG Tier Carbon Score 1Y Return 5Y Ann. Benchmark
Canadian Equity 24.0% A Low +11.8% +9.2% TSX Composite
Global Equity 20.0% A+ Very Low +14.2% +11.4% MSCI World ESG
Green Bonds 18.0% AAA None +4.8% +3.9% MSCI Green Bond
Infrastructure 16.0% A Low +7.1% +8.8% FTSE Infra
Timberland & Natural Capital 10.0% A+ Negative +5.4% +6.1% NCREIF Timberland
Private Credit 8.0% BBB Medium +8.6% +7.9% Credit Suisse LL
Cash & Equivalents 4.0% None +4.9% +2.1% BoC Overnight
ESG Tier = MSCI composite. Carbon Score based on Scope 1+2 intensity vs benchmark median. Returns net of fees.
Sustainability Research
Fixed Income · Green Bonds
Green Bond Premium: Does the Greenium Justify the Liquidity Cost?
Apr 2025 · 22 pages
Equity · Natural Capital
Timberland as a Long-Duration Inflation Hedge: 20-Year Evidence
Mar 2025 · 28 pages
About this palette

Warm Analysis — ground: #faf7f0 (warm cream) · accent: #1a5c3a (forest green) · ink-deep: #0f1f16. Eight CSS custom property overrides in theme.json. Demonstrates how Gutter serves sustainable asset managers, endowments, and ESG-focused institutions — same data-table discipline, warmer palette.