CalSTRS and Microsoft’s Climate Innovation Fund have anchored a new strategy from Just Climate, the investment business created by former U.S. Vice President Al Gore's Generation Investment Management to scale efforts to achieve a carbon-free economy.
The new Natural Climate Solutions strategy has secured $175 million in funding, including from the two anchors, according to a news release March 18 from Just Climate.
In January, Natural Climate Solutions made its first investment, leading the Series B funding round for NatureMetrics, a company focused on environmental DNA-based biodiversity monitoring.
The $352.7 billion California State Teachers’ Retirement System, West Sacramento, was previously an anchor investor through its Sustainable Investment and Stewardship Strategies Private Portfolio in Just Climate’s inaugural fund, Climate Assets Fund I, an industrial climate solutions strategy.
“This investment with Just Climate is aligned with our long-term outlook and mission to provide a secure retirement for California’s public educators and their beneficiaries,” said Kirsty Jenkinson, investment director at CalSTRS, in the news release. “We believe investment opportunities related to the land transition that require specialist expertise create value. Our partnership with Just Climate aims to accelerate the land transition and contribute to a more sustainable global economy while generating attractive investment returns for our members.”
The specific amount of CalSTRS’ funding was not provided.
