Generation Investment Management launched Just climate in 2021, to channel institutional financing into decarbonization projects and startups. Just Climate has raised $375 million for its Natural Climate Solutions strategy, which cuts checks of between $30 million and $50 million for innovations that cut emissions in food systems, water and waste management, forestry and sustainable supply chains (see, “Just Climate leans into ‘natural’ strategies”).
New investors include Achmea Investment Management, a subsidiary of the Dutch insurance group Achmea, UK’s Environment Agency Pension Fund, or EAPF, and the Royal Bank of Canada. The strategy had secured $175 million in anchor financing in March from the California State Teachers’ Retirement System and Microsoft’s Climate Innovation Fund.
Save the bees
Just Climate announced its third investment, in AgroStar, a provider of seeds and natural fertilizers as well as credit and agronomic advice for India’s small farmers. That follows stakes in NatureMetrics, a UK provider of biodiversity data and monitoring services for conservation organizations, and US-based GreenLight Biosciences, which makes biopesticides for farmers and beekeepers. Just Climate understands “the investment opportunities that arise when you protect and enhance nature,” said EAPF’s Becky LeAnstey.
Latin flavor
The natural climate strategy complements Just Capital’s Climate Assets Fund, a $1.5 billion strategy clinched in 2023 to decarbonize polluting industries like transport, metals, energy and manufacturing.
The firm launched its Latin America strategy with the acquisition of São Paulo-based climatetech investor Good Karma Partners in May this year. Its aim is to back climate solutions mainly across Brazil, Colombia and Mexico in collaboration with the Inter-American Development Bank. “If you’re in the fashion business, you need to be in Paris or in Milan. If you’re in the climate business, you need to be in Latam,” Just Climate’s Eduardo Mufarej told ImpactAlpha in a previous interview.
At the COP30 talks that just wrapped in Brazil, Just Climate forged a partnership with The Green Climate Fund to mobilize private institutional capital for climate solutions in emerging markets.
