R3.2-billion to fight climate change

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R3.2-billion to fight climate change
FUNDING GREEN CHANGE: Billionaire investors from across the globe has dispensed fund which are meant to fund innovation projects aimed at mitigating the effects of climate change on the globe. PICTURE BY Twitter

Big name investors are backing the new climate venture fund.


R3.2-billion is the sum of a new capital fund formed by big name investors in the world to fight climate change.

Companies like Lombard Odier Group and Roche Holding are among a cast of big name investors supporting the Systemiq Capital Fund II.

The target size is $200-million (about R3.2-billion) and it will focus on climate technology companies that help reduce emissions and improve sustainability in areas from food production to building materials and transportation.

The fund will be managed by Systemiq Capital.

Other investors include a rich man named Chad Holliday, who once was chairperson of energy company Shell and the Bank of America.

Also Jeremy Grantham and his wife Hannelore announced plans in 2019 to devote about R16-billion to fight climate change.

With more investors seeking to deploy funds in sustainable assets, there’s growing interest in companies working on products with a low-carbon footprint and those developing technologies to lower emissions.

Climate technological startups are on track for record funding this year, with first-quarter investment in the sector rising 131% to more than R250-billion, reports Bloomberg.

“We are finally starting to see momentum for a cleaner, fairer, more resilient economy build across business, in finance, among governments and in wider society, and the big question is how can we accelerate these shifts?” said Paul Polman, former CEO of Unilever and founding shareholder in Systemiq Capital.

“Making sure the best climate technology innovations are ready and available is key,” he said.

Other investors in the fund include Mark Cutifani, former CEO of mining giant Anglo American.

Also Erik Frywald, the boss of seed and fertiliser giant Syngenta.

Others are –

– Investor Stephen Brenninkmeijer

– Deutsche Post Foundation

– Andre Hoffman of the Roche empire.

Former Goldman Sachs banker, Irena Spazzapan, and who now heads Systemiq Capital’s investment team, said the new fund provides “capital for systems change.”

Systemiq Capital’s first fund, launched in 2018, invested in companies focused on regenerative land use, developing new chemistries for low carbon materials, as well as carbon removals and biodiversity restoration.

-Bloomberg-