Press releases

  • Date 12 April 2023
  • Words by Climate Asset Management
  • Reading time 3 mins

Climate Asset Management will manage a new investment fund for Apple as Apple doubles the size of its Restore Fund

• Apple commits up to an additional $200 million to its Restore Fund

• The new fund is managed by Climate Asset Management and offers Apple suppliers the opportunity to become partners in the fund

• A unique blended fund structure targeting financial and climate benefits

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London | San Francisco: Climate Asset Management will manage a novel natural capital investment fund for Apple, as Apple expands its Restore Fund with up to an additional $200 million commitment for natural capital projects.

The new fund, which is an expansion of the Restore Fund, will have a unique approach, using the full breadth of Climate Asset Management’s natural capital investment platform, straddling both its natural capital and nature based carbon strategies.  This blended approach will target natural capital projects in developed and developing economies around the world with the objective of generating a financial return as well as carbon credits from high-quality carbon removals.  For Apple suppliers that become partners in the fund, it will offer a new way for them to incorporate high-impact carbon removal projects as they decarbonize.

The expansion of Apple’s Restore Fund will support a broad portfolio of high-quality nature-based carbon removal projects that scale up carbon removal with the aim of removing one million metric tonnes of carbon dioxide from the atmosphere per year at its peak.  Managed by Climate Asset Management, the new fund will pool two types of investments which align to Climate Asset Management’s existing investments strategies.

Natural Capital – part of the portfolio will be invested in nature-forward agricultural projects that generate income from sustainably managed farming practices. Apple’s commitment includes an investment into Climate Asset Management’s existing Natural Capital Fund, which aims to deliver long-term financial returns alongside improved environmental outcomes from regenerative landscape management in agriculture, forestry, and environmental assets.

Nature Based Carbon – the remainder of the portfolio will be invested in Nature Based Solutions (NBS) projects which conserve and restore critical ecosystems that remove and store carbon from the atmosphere, with a primary focus on generating independently verified and certified removal carbon credits.

This unique blended fund structure aims to achieve both financial and climate benefits for investors while advancing a new model for carbon removal that more fully addresses the global potential for nature-based solutions.

Martin Berg, CIO of Nature Based Carbon Strategy at Climate Asset Management commented: “Apple’s commitment to double the size of its Restore Fund is a strong statement of intent that should be a rallying cry for corporates the world over. Managing this new fund is a testimony to the strength and collective expertise of the team we have assembled.  We are delighted to be working with Apple to build a pipeline of opportunities that showcase the strength of our dedicated natural capital strategy.”

Christof Kutscher, Executive Chair and CEO of Climate Asset Management added: “I’m genuinely proud about Climate Asset Management’s collaboration with Apple in taking an innovative approach to deliver carbon removal as a step forward towards carbon neutrality.”

ENDS

 

Notes to Editors: Media contacts:

Ben Thompson – Marketing and Communications, Climate Asset Management  +44 (0)7837 408 421
ben.thompson@climateassetmanagement.com

Ellis Ford – Senior Communications Manager, Insurance and Asset Management HSBC  +44 (0)7384 791 611 ellis.ford@hsbc.com

ABOUT CLIMATE ASSET MANAGEMENT
Climate Asset Management was formed in 2020 as a joint venture of HSBC Asset Management and Pollination, with the ambition to grow the world’s largest asset management company dedicated to natural capital.  It aims to provide investment solutions that are good for nature, people, and our planet.  Its investment strategies seek to work across landscapes to build resilience whilst generating returns. Through its Natural Capital Strategy, Climate Asset Management aims to deliver attractive, long-term risk return outcomes and create impact at scale by protecting and restoring vital biodiversity. Through its Nature Based Carbon Strategy, it aims to unlock the supply of high impact carbon credits for corporates and investors seeking to achieve net zero.

Issued in the UK by Climate Asset Management Limited, authorised and regulated by the Financial Conduct Authority in the UK (FRN 944222) Registered address: 3 More London Riverside, London SE1 2AQ, UK.

climateassetmanagement.com

ABOUT POLLINATION

Pollination is a global investment and advisory firm focused on climate and nature. It designs, builds and invests in climate and nature solutions to accelerate the transition to a net-zero, nature-positive future.

Established in 2019, Pollination has brought together a global team of 200 leading experts from across the climate and nature ecosystem; spanning finance, investment, technology, business, law, policy and science. Leveraging unique market insights, it designs investment platforms and funds to meet investor needs and deliver real impact.

pollinationgroup.com

ABOUT HSBC ASSET MANAGEMENT

HSBC Asset Management should be referred to either in full or as HSBC AM to avoid confusion with any other financial services firms.

HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 23 countries and territories, delivering global capabilities with local market insight. As at 31 December 2022, HSBC Asset Management managed assets totalling US$617bn on behalf of its clients. For more information see http://www.global.assetmanagement.hsbc.com/

HSBC Asset Management is the marketing name for the asset management businesses of HSBC Holdings plc.

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,967bn at 31 December 2022, HSBC is one of the world’s largest banking and financial services organisations

ENDS/ALL

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