Just Climate, an investment business to address the net-zero challenge at scale, has today announced the closing of its inaugural fund, raising $1.5 billion in institutional capital to invest in the highest impact solutions that can radically reduce or remove emissions, while generating attractive risk-adjusted financial returns.
The Fund’s founding investor group included Microsoft’s Climate Innovation Fund which anchored the Fund, IMAS Foundation, Ireland Strategic Investment Fund, Harvard Management Company, the Imprint Group of Goldman Sachs as well as Hall Capital Partners and its clients.
The Fund will be part of Just Climate’s industrial climate solutions focus and will pursue investments in growth-stage, asset-heavy companies globally which have the potential to deliver transformational climate impact across some of the highest-emitting, hard-to-abate industries — including energy, mobility, industry and buildings — in order to generate outsized emissions abatement in the next decade.
Shaun Kingsbury CBE, Chief Investment Officer of Just Climate, said: “More than 50% of the world’s emissions come from the hard-to-abate industries. Without radical and urgent changes to the way that the financial sector approaches the decarbonisation challenge in these industries, which are the building blocks of our economy, there will be no net zero by 2050. Proven, transformational climate solutions are being developed to decarbonise the industrial sectors. With the right investment support, we believe they can scale rapidly to achieve better gross margins, a lower cost of capital and widespread market adoption.”
Just Climate has built a team of investment professionals who combine skills in growth equity, project finance, engineering and impact measurement with the capabilities to find and support business models that can provide transformational solutions for the hard-to-abate industries.
Company press release