Nature is capital.

Nature is
capital.

A partnership of

Brands

Creating long-lasting impact and returns at scale.

Climate Asset Management is a joint venture between HSBC Asset Management and Pollination. We were formed with the ambition to grow the world’s leading asset management company in natural capital.

Climate Asset Management considers itself a new kind of asset management company: we see nature as the most fundamental form of capital.

Generating returns for investors and nature.

Combining expertise in investment management and natural capital, Climate Asset Management aims to offer investment solutions that generate returns for investors and nature – enhancing ecosystems, protecting biodiversity and accelerating the transition to net zero.

Through our Natural Capital Strategy, we seek to deliver commercial, long-term returns and create impact at scale by protecting and restoring vital biodiversity. Through our Nature Based Carbon Strategy, we aim to unlock the supply of high impact carbon credits for corporates and investors seeking to reach net zero.

Key People

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Martin Berg

CEO and Board Member

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Martin Berg

CEO and Board Member

Martin has over 20 years’ experience in climate and environmental investment, with a particular focus on natural capital and carbon finance. As CEO of Climate Asset Management, Martin leads the strategic vision, operations, and growth of the company, which has raised over $1bn million across two investment strategies from both institutional and corporate investors.

Previously, Martin was a Partner at Pollination, where he played a key role in forming the joint venture with HSBC. His career also includes senior roles focussing on low-carbon infrastructure, natural capital and carbon finance at the European Investment Bank and Bank of America Merrill Lynch, as well as positions at the OECD, RNK Capital and the UNFCCC.

Martin is passionate about mobilising finance at scale for investment opportunities that preserve, protect, and enhance nature, reduce carbon emissions, and address climate change while delivering risk-adjusted returns to institutional and corporate investors.

Ben O’Donnell

Chief Investment Officer

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Ben O’Donnell

Chief Investment Officer

Ben has over 20 years’ experience in funds management and investment banking, with deep experience across a range of natural capital assets. Ben became CIO at CAM in June 2024, prior to which he led the establishment of CAM’s Natural Capital Strategy, overseeing the deployment of more than $350 million of capital into a diverse portfolio of Natural Capital assets.

Previously Ben worked in agriculture funds management at Macquarie Asset Management (MAM), and was a key contributor to more than doubling the AUM of the Macquarie Infrastructure and Real Assets Agriculture platform to A$2.7b. Prior to working in MAM Ben led food and agriculture coverage within Macquarie Capital, advising on more than A$4 billion of transactions.

Sarah Gledhill

Chief Operating Officer

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Sarah Gledhill

Chief Operating Officer

Sarah has over 25 years’ experience within Finance, Risk and Operations, the last two decades within Investment Management.

Sarah was appointed COO in January 2024, following over 17 years at InfraRed Capital Partners, where she held leadership roles for Finance, Risk, Technology, Operations and Sustainability, and where she established a Portfolio Impact Strategy across a portfolio of 200+ infrastructure assets, going beyond contractual requirements and creating better futures for surrounding communities.

At CAM, Sarah has focused on embedding governance, enhancing cost control, and scaling operational capabilities. She is instrumental in aligning CAM’s platform with investor expectations and regulatory standards, while fostering a culture of accountability and delivery. Earlier in her career Sarah worked at HSBC Asset Management and Ernst and Young and holds a FCA from ICAEW and a Geography degree from the University of Birmingham.

News & thought leadership

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Awards

2025

2024