Climate fund update October

With the kick-off of COP26 in Glasgow we saw a flurry of activity in the Climate-tech investing space. Incredibly interesting new funds launched like the Just Climate vehicle of Al Gore’s GenerationIM that has the intention to make a step change in the way we think about investing. Optimising for climate-first with the confidence that financial returns will follow, instead of the other way around. The World Fund, powered by Ecosia, which has the goal to become the biggest Climate VC fund in Europe. And other funds that we follow made announcements about new investments or launched their impact reports, like Energy Impact Partners and Astanor Ventures. See the highlights below! 

GenerationIM – Just Climate
Al Gore’s Generation Investment Management
announced the launch of Just Climate, an investment business dedicated to climate-led investing with the mission of limiting global temperature rise to 1.5ºC

Co-founder of GenerationIM David Blood explains here why they decided to launch Just Climate.

Shaun Kingsbury CBE, the former CEO of the UK Green Investment Bank, was appointed as Chief Investment Officer for Just Climate

Probably one of the most compelling climate-investment fund on the market today! GenerationIM was the first and still is the leading investment firm in the impact-space. They now decided that a step change in thinking about climate investing is necessary to really make a difference, and once and for all resolve the impact vs return debate. Stay tuned for more updates on this exciting fund!

Energy Impact Partners’ Deep Decarbonization Frontier Fund 1 recently expanded their team with Ashwin Shashindranath who joined as Partner, bringing relevant investment experience as Managing Director at Macquarie Capital’s Green Investment Group and at Evergy Ventures

Impact report
Energy Impact Partners released their new ESG and Impact Performance Report, announcing that annual CO2e emissions avoided by its portfolio increased from 1.8 megatons to 2.8 megatons

Portfolio companies
Pique Action published a 3-minute video on their portfolio company Nitricity’s technology to create the cleanest, most efficient, and least carbon reliant fertilizer in the world

Astanor Ventures
The fund recently appointed three new Partners:

George Powlick, former Managing Director at Doughty Hanson Technology Ventures and Chairman of several start-up companies in the renewable energy sector.

Emmanuel Faber, former Chairman & CEO of Danone, and a climate and social business activist through initiatives such as the One Planet Business for Biodiversity coalition.

David Barber is co-owner of Blue Hill, a farm-restaurant-consulting company, and a leading voice in reforming American agrifood economics

Impact report
Astanor just published their first 
Impact Creation Report describing their impact philosophy and approach. Astanor aims to revolutionize the agrifood system across the entire value chain by supporting and scaling the most disruptive & impactful solutions

Fund launch
The World Fund, initiated by Ecosia, came out of stealth mode and announced its mission of saving 2 gigatons of CO2e emissions by 2040 (which is about 4% of all global emissions) by tackling the sectors with the largest decarbonization opportunities

Portfolio companies
Two new investments were announced with the launch of the Fund.

QOA produces the world’s first 100% cocoa-free chocolate, which is 10x more sustainable than conventional chocolate. 

Recup provides a deposit system for reusable coffee-to-go cups and takeaway food to replace disposable packaging.

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