Climate Investment grows GHG impact by 39% year-on-year
12 July 2024
- Portfolio delivers over 38 MT CO2e of GHG reduction in 2023
- Cumulatively, the Climate Investment (CI) early-stage ventures portfolio has delivered over 95 MT CO2e GHG reduction
London, UK – Specialist decarbonization investor, Climate Investment, today announced that its portfolio of 37 cutting-edge innovations increased its GHG impacti by 39% between 2022 and 2023. This brings the five-year cumulative impact of CI‘s portfolio to 95 MT CO2e – more than the annual GHG emissions of New Zealand. The announcement was made as the firm releases its latest Impact Report.
The quantification of impact plays a key role in CI’s investment process. Since 2019, CI has been using impact to steer investment decisions and quantify its portfolio’s results. For the second year running, the portfolio impact has been subject to the additional scrutiny of an independent limited assurance review by EY to ISAE 3000 standards.
Commenting on the latest set of results, Pratima Rangarajan, CEO at Climate Investment, said,
‘‘Seven years into CI becoming operational, I’m delighted to see this momentum. Although the climate warming challenges remain acute, the technologies, capital and policies to address them are aligning – now is the time to accelerate their adoption. We’ve always believed that collaborative, visionary and effective partnerships are the key to driving adoption and unlocking impact, and the early results from our portfolio are demonstrating this.”
Climate Investment provides early-stage to growth equity capital to innovative companies across the heavy industrial sectors of energy, industry, transport and buildings – and follows that with intensive portfolio growth support to accelerate the market deployment of their products and services.
In 2023, CI supported 42 new deployments of its portfolio’s technologies, taking its total deployments to 154. Portfolio companies also expanded from their home markets into new geographies – the most recent being Aeroseal, whose air sealing and duct technologies will be deployed across Saudi Arabia.
In 2023, CI saw continued impact growth in its methane emissions reduction portfolio (+38% YoY) and saw significant impact coming from its CO2 reduction portfolio (+126% YoY), particularly driven by advances in energy efficiency.
ENDS
About Climate Investment
Climate Investment is an independently managed specialist investor focused on accelerating capital-efficient decarbonization of heavy emitting sectors. Operational since 2017, its team of investment and technical experts has built a portfolio of 37 technology and business model innovations across energy, transportation, buildings and industry. Collectively, its Catalyst portfolio delivered 95 MT CO2e of cumulative greenhouse gas reduction in the period 2019-2023.
Climate Investment was founded by member companies of the Oil & Gas Climate Initiative (“OGCI”). They have invested in Climate Investment funds and deployed many of its portfolio innovations, supporting their early commercial development.
Contact:
Kekst CNC at climateinvestment@kekstcnc.com – Guy Bates (+44 7581 056415) and Matthew Burton (+44 781 5993 063)
iClimate Investment and/or its affiliates makes no representation as to the accuracy or completeness of this information. Any projections, forecasts and estimates are necessarily speculative in nature and actual results may vary. This communication is not an offer to sell, or a solicitation of offers to buy, securities of any investment fund. You should consult your legal and other advisors.
