Octopus Group clean energy investments arm Octopus Renewables has won a new UK corporate pension mandate with the National Grid UK Pension Scheme to invest £185m in national solar and onshore wind assets.
Professional Pensions 9th Jan 2020 read more »
It’s a surprise that early stage investors have shown such indifference to the climate crisis. Few would argue that rising temperatures are the gravest threat to our planet, but finding a way to halt global warming could be hugely profitable. The green energy industry could be worth $2.5 trillion, according to a recent report by Atomico, a venture capital fund. Yet despite all the cash swishing around technology, few venture capitalists seem willing to back ways to prevent an environmental catastrophe. In 2018 American clean tech companies raised $6.6 billion, only 15 per cent of the total ploughed into software start-ups, according to Pitchbook, a research firm. Billionaires such as Bill Gates, Jeff Bezos and Jack Ma have clubbed together in the $1 billion Breakthrough Energy Ventures fund. They are investing in more ambitious projects, including a start-up working on a technology that uses electricity to make steel, rather than burning coking coal. But it will take more than the largesse of the super-rich list to plug green energy’s funding gap. We may not be able to wait passively for technology to halt global warming. Policymakers need to act swiftly, by introducing steeper taxes on carbon and subsidies for green energy developers.
Times 9th Jan 2020 read more »