(Bloomberg) – Generation Investment Management, co-founded by the $ 36 billion investment firm Al Gore, has launched a new fund-targeting firm that contributes to lower emissions, increased financial inclusion and more accessible healthcare. The $ 1.7 billion Sustainable Solutions Fund will allow IV Generation to invest in growing companies that are “shifting industries toward sustainability and responsible innovation,” the fund manager said in a statement Wednesday. The new fund is the generation’s response to the “sustainable revolution,” which will include “the scale of the industrial revolution and the pace of the digital revolution,” said Lila Preston, head of the firm’s Growth Equity, in an interview. The asset manager has researched “all the pockets of the economy” to see where disruptions will occur and which companies will perform best, he said. In the midst of an energy crisis the latest sustainable funding of the generation is being opened which has increased the price of fossil fuels and left many environmental, social and governance funds performing less than their standards. In the United States, ESG funds have declined by about 15% this year, compared to an increase of about 35% in the MSCI World Index for oil, gas and consumables. , A longtime Goldman Sachs Group Inc. executive, Generation has long shunned fossil fuels and warned that the money industry is running out of time to remove capital from greenhouse-gas emissions. Gore, whose 2006 documentary, “An Inconvenient Fact”, brought the issue of climate change to the attention of the general public, repeatedly warned of a “subprime carbon bubble” that would cause investors significant losses in the wrong direction. Preston Generation’s new funding will target companies with মধ্যে 30 million to $ 300 million in revenue. All potential portfolio companies are evaluated not only on the quality of their business and management, but also on their so-called system-positive contributions “to ensure that they are clearly leading the transition to a more sustainable future,” Generation said. The new funding will address three key areas: planetary health, which supports waste and emissions and biodiversity, focusing on mobility, agriculture, energy and a company’s ability to provide net-zero carbon solutions in enterprise; “Public health”, which targets companies that help provide better, cheaper access to healthcare; And financial inclusion, which seeks out organizations that help access money, reduce inequality, and support a fair future for work. Generation said its analysis “measures the first- and second-order effects of a business model on humans and the planet, including its impact on its products, supply chain, organizational culture and broader role in society.” In October, the firm announced that it was forming a joint venture with Goldman Sachs Asset Management, Microsoft Climate Innovation Fund and Harvard Management Co. to invest in limiting global warming to 1.5 degrees Celsius above the pre-industrial level.
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