Just Climate, an investment business established by Generation Investment Management to address the net-zero challenge at scale, has closed its inaugural fund, Climate Assets Fund I.
The fund exceeded its $1 billion target, raising $1.5 billion in institutional capital to invest in the highest impact solutions that can radically reduce or remove emissions, while generating attractive risk-adjusted financial returns. It will be part of Just Climate's industrial climate solutions focus and will pursue investments in growth-stage, asset-heavy companies globally that have the potential to deliver transformational climate impact across some of the highest-emitting, hard-to-abate industries — including energy, mobility, industry and buildings — in order to generate outsized emissions abatement in the next decade.
The fund closed with a diverse set of institutional investors with a far-reaching geographical spread, including California State Teachers' Retirement System, P
