M&G Investments has launched a fund targeting equity investments in companies that aim to provide solutions to the challenge of climate change, including renewables.
The M&G Climate Solutions Fund, managed by Randeep Somel, is a concentrated portfolio of around 30 companies diversified around clean energy, green technology and the promotion of the circular economy.
M&G said it will report every year on each company’s net positive climate impact and revenue alignment with climate-related UN Sustainable Development Goals.
Somel said: “The green agenda and the need to provide solutions to the challenge of climate change has unlocked the creativity and ingenuity of many companies who have these solutions at the heart of what they do.
“This is a multi-decade opportunity for companies who deliver innovative products and services – and for those who invest in them.”
M&G Investments head of sustainable and impact investing Ben Constable-Maxwell said: “As the world focuses on the scale of the sustainability challenges faced by our planet, positive impact finance has an opportunity to put financial firepower behind pioneering businesses providing solutions to those challenges.
“This fund provides our customers with the opportunity to address the climate emergency while putting their savings to work with a purpose.”