Just Climate Successfully Closes $1.5bn Fund
Just Climate has concluded its inaugural fund, securing $1.5bn (£1.2bn) to invest in growth-stage climate tech companies operating in sectors such as energy, mobility, industry, and buildings.
Microsoft’s Climate Innovation Fund Anchors Just Climate Tech Companies
The Climate Innovation Fund from Microsoft serves as the cornerstone of Just Climate’s fund, with additional contributions from various entities, including the IMAS Foundation, Ireland Strategic Investment Fund, Goldman Sachs’ Imprint Group, pension providers, sovereign wealth funds, and family offices.
Targeting “Asset-Heavy” Companies with Transformational Climate Impact
Just Climate’s fund aims to invest in “asset-heavy” companies globally that have the potential to deliver significant climate impact across high-emitting industries that are challenging to decarbonize.
Urgent Action Needed in Hard-to-Abate Industries for Net Zero by 2050
Shaun Kingsbury, Chief Investment Officer at Just Climate, emphasizes the importance of radical and urgent changes in the financial sector’s approach to decarbonization in hard-to-abate industries, which account for over 50% of global emissions, to achieve net zero by 2050.
Early Investments in H2 Green Steel, Meva Energy, and ABB E-mobility
Just Climate has already provided backing to companies such as H2 Green Steel from Sweden, Meva Energy, and ABB E-mobility from Switzerland, recognizing their potential to drive transformative climate impact.
Just Climate: A Division of Generation Investment Management
Based in London, Just Climate operates under Generation Investment Management, founded by former US Vice President Al Gore and David Blood, former head of asset management at Goldman Sachs. Their approach focuses on identifying impactful climate solutions and mobilizing institutional capital to achieve attractive risk-adjusted returns.