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Energy - JUNE 5, 2019

Family office firm with international investors and entrepreneurs launches new climate endowment

by Released

A group of international investors and entrepreneurs has announced the launch of a Climate Endowment as an urgent response to the Climate Crisis and to the European voters’ outcry for a Green Revolution.

“The shifting tide of public opinion on climate protection has reached a critical mass — the recent E.U. elections, as well as unprecedented ‘Friday for Future’ protests, have signaled a clear demand for a green revolution,” said Jochen Wermuth, founder of Wermuth Asset Management GmbH and initiator of the Climate Endowment.

The aim of the Climate Endowment is to enable institutional investors to allocate more of their huge capital stock to renewable energy, new mobility and related clean-tech assets. Its initiators plan to obtain commitments from the public and private sector to achieve a size comparable to the large U.S. endowments with approximately €20 billion–€40 billion ($23 billion–$45 billion) of assets under management. It will be launched in the autumn 2019 and be headquartered in Berlin, the center of the energy transition and home to many research and policy institutions on climate change.

The Climate Endowment will focus on illiquid investments in sustainable and commercially viable technologies and business models resulting in strong reduction in global CO2 emissions.
It will invest in the champions of the Green Industrial Revolution, capturing global market forces at the intersection of the energy, transport, finance, agricultural, AI/IT, education and health, economic transition. It aims to provide an attractive solution for EU pension funds and insurance companies to invest into this entire movement, so far by them, a largely untouched space and within their usual risk tolerances.

“I believe there has never been a better time than now for the investment community to step forward and initiate this change,” said Dr. Mariana Bozesan, co-founder and board member AQAL AG, full member International Club of Rome. “AQAL’s mission is the implementation of the UN SDGs within Planetary Boundaries. We only have 11 years left to fulfill the Agenda 2030, and we are convinced that transformation is feasible. The Climate Endowment is the most significant stepping stone at this point in time.”

The initiators and founders of the Climate Endowment are:

  • Wermuth Asset Management GmbH (WAM), the family office and impact investing adviser
    AQAL AG, a Munich-based multifamily office and integral company builder
  • Jochen Wermuth, impact investor, principal of WAM and investment committee member of KenFo, Germany’s €24 billion ($27 billion) nuclear waste storage financing vehicle
  • Markus Bodenmeier, co-founder AQAL AG, serial entrepreneur turned integral (impact) investor investing particularly in renewable and energy efficiency
  • Patrick Horend, former special situations investor and risk manager at the Abu Dhabi Investment Council, a leading sovereign wealth fund and endowment-style investor

They are being supported by a strong group of senior advisers, potential partners and supervisory board members:

  • Mats Andersen, former CEO of AP4, a large Swedish pension fund
  • Stephen Blyth, former CEO of the Harvard Endowment
  • Philippe Défossès, former CEO of ERAFP, France’s largest pension fund
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