Venture capital firm OnePlanetCapital has launched a specialist fund to invest in sectors including green technology and fintech, as well as broader B2C businesses tackling climate change.
The enterprise investment scheme (EIS) fund targets investments that will have a positive environmental impact, aiming to deliver market rate returns and support the emerging green economy.
Target companies include those promoting renewable energy and efficiency, biodiversity, agricultural technology and pollution management, with investments underpinned by a new ESG framework.
“In 2019 the UK became the first major economy to pass laws to end its contribution to global warming by 2050,” said Matthew Jellicoe, co-founder of OnePlanetCapital. “This target requires a paradigm shift in the UK economy and enormous amounts of investment into the businesses of the future.
“Unprecedented change is required to our global economy. We are on the verge of a green industrial revolution and the world is waking up to the substantial changes needed to tackle the climate issues we face.”
The new climate change funds comes after Prince Charles asked companies to promote sustainable practices by joining the Terra Carta earth charter.
Jellicoe said that the need to finance sustainable companies has been amplified by the COVID-19 crisis.
“Decarbonisation is now being backed by all major developed economies including the US and China and huge amounts are being invested in green energy, green technology and services,” he continued.
“Consumers are also becoming increasingly driven by sustainability and becoming more aware of a business’ green and social purpose credentials.”
