May 31, 2024

Lincoln Webb, Executive Vice President of Infrastructure and Renewable Resources recently spoke at BCI’s 2024 Investor Day, where he shared his views on our international offices, investing globally, managing geopolitical risks, and the changing regulatory landscape.

Why did BCI open offices in New York and London?

Our international offices are a natural extension of our global business model. From a talent perspective, they allow us to have people on the ground in regions where we have key investments and partners. They are also important from a mindset perspective. These locations help staff think globally about the world outside of Canada and provide access to professional opportunities internationally. We were deliberate in establishing both offices to ensure they added value to BCI and our clients. We continue to expand our team in support of our investment strategies, and have increased our presence in Asia with a team member based in Mumbai, India, who directly supports the infrastructure & renewable resources program.

What do you consider when investing globally?

There are several key considerations when investing on a global scale. As a starting point, it is important to ensure a deep understanding of the local market. For example, does it align to our areas of expertise? Do we have existing partners in the region? It is also essential to do a thorough analysis of operational and regulatory practices early and work closely with management teams. The distinct regulatory environment of each country is a critical aspect to consider, and maintaining a long-term focus on sustainability is essential when investing in any international market.

How do you approach geopolitical issues and regulatory changes?

BCI’s infrastructure and renewables resources team oversees around $28 billion dollars of long-term capital invested in global companies, many providing essential services like electricity and water to communities. Having a diverse portfolio means operating in environments unique to each country and sector. It is crucial now more than ever to monitor political and regulatory developments, especially when investing in companies providing fundamental infrastructure and essential services.
The upcoming year will be eventful, with many European elections, the U.S. presidential elections, and a possible U.K. general election. We approach all risks with caution, remaining attentive, and stay current with global events.

How do you anticipate this market will evolve?

In the coming decades, countries across the world will require significant capital for infrastructure, driven primarily by energy transition and decarbonization. Substantial investments are necessary to meet green power demands, digitization needs, as well as agriculture and food security concerns. As a responsible, long-term global investor, we are well-positioned to explore opportunities aligned with our values. However, it is critical we select opportunities that align well with BCI’s risk-return requirements and ESG expectations while maintaining our client-first approach in all decisions.

Learn more about our infrastructure and renewable resources program.