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Former Liberal MP Steven Guilbeault rises in the House of Commons on Parliament Hill in Ottawa, in May.Spencer Colby/The Canadian Press
Former federal environment minister Steven Guilbeault has landed his first post-politics job, signing on with a Quebec pension plan and impact investment fund to advise on climate, biodiversity and the social effects of environmental action.
Mr. Guilbeault, who stepped down as a Liberal member of Parliament at the end of August following a philosophical split with the government, has joined the Montreal-based Bâtirente and Fondaction Combination, the organization will announce on Tuesday.
The combination, formed in January, 2025, brought together the group pension plan established by the Confédération des syndicats nationaux as well as Fondaction. The latter is a $4.5-billion labour-sponsored impact fund, which focuses on sustainable investments.
Steven Guilbeault officially resigns Montreal seat of Laurier-Sainte-Marie
Mr. Guilbeault said he was attracted to the opportunity because the organization aligns with his own environmental and social values. He will be an executive adviser in a role that will involve using his contacts in numerous sectors and environmental experience to develop relationships with stakeholders in Quebec, across Canada and internationally.
“I think one could easily argue that they are definitely one of the most progressive of Canadian funds out there, and I’ll be happy to help them evolve and implement the vision that they have,” Mr. Guilbeault said.
That involves seeking financial returns from business opportunities that advance United Nations Sustainable Development Goals, including such objectives as expanding clean energy, protecting biodiversity and oceans, and promoting environmentally friendly production and consumption.
“There are very few countries that have not adhered to the SDGs. Now, how many of them are putting them in place and working day in and day out to do that is another story. But I think, at least in theory, we all agree with this, and what I like about Fondaction is that it’s not just theoretical in their case. It’s very day-to-day; it’s very on-the-ground,” he said.
He will serve in the role part-time, and is exploring other opportunities, he said.
Stéphan Morency, chief executive officer of Fondaction and the Bâtirente and Fondaction Combination, said Mr. Guilbeault has established himself as a leading voice on the environment as an activist and decision-maker who will broaden the fund’s perspectives.
“His ability to drive ideas forward, build bridges between different groups, and mobilize support around complex issues will be a valuable asset as we move forward with the next stages of our development,” Mr. Morency said in a statement.
He and Mr. Guilbeault will attend Climate Week NYC, being held Sept. 20 to 27.
Mr. Guilbeault was elected as a Liberal in the Montreal riding of Laurier-Sainte-Marie in 2019 after more than two decades in the world of environmental activism. As minister of environment and climate change, he championed the climate policy focus under former prime minister Justin Trudeau, including industrial and consumer carbon pricing and a proposed cap on oil and gas emissions.
That made him a frequent target of derision among governments of provinces with large conventional energy industries, notably Alberta and Saskatchewan.
Mr. Guilbeault left Prime Minister Mark Carney’s cabinet last November after the government signed a memorandum of understanding with Alberta Premier Daniel Smith to advance a new multibillion-dollar oil pipeline to the Pacific Coast and softened other climate policies. In May, he announced his resignation as an MP.
One example of what he wants to accomplish at Bâtirente and Fondaction is building up the Value Nature Fund, a $480-million investment vehicle focusing on regenerative farming and forestry. Fondaction and Dutch sustainable investor Triodos Investment Management launched the fund last spring, with the former committing $25-million.
It is one of the largest private-sector funds directed at nature conservation, Mr. Guilbeault said. He intends to discuss the fund with potential investors and other contacts while at New York climate week.
Meanwhile, there are several promising renewable energy and cleantech projects in the dealbook assembled for the Carney government’s two-day Canada Investment Summit that wraps up Tuesday in Toronto, Mr. Guilbeault said. However, he remains opposed to the expansion of fossil fuels, which other proposals on the list promote.
“I continue to disagree with that, but I’ve tried to be careful in my public commentary to not throw the baby out with the bathwater,” he said. “I think that the government is still doing things to fight climate change – nowhere near to the level that the previous government was. So yeah, I’d say mixed bag.”