Robeco Awarded €87 Million Climate Investment Mandate by National Trust
International asset manager Robeco announced today that it has been selected by National Trust as its partner in achieving its commitment to become carbon net zero by 2030, with the award of an €87 million investment mandate.
UK-based National Trust is Europe’s largest conservation charity, which looks after more than 250,000 hectares of countryside, 780 miles of coastline and 500 historic properties, gardens and nature reserves. For the new investment mandate, National Trust aimed to align its investment strategy with its objective to mitigate climate change and protect the natural environment. The charity was advised by global investment firm Cambridge Associates.
Peter Vermeulen, the National Trust’s Chief Financial Officer said:
“As Europe’s largest conservation charity, we have the responsibility to combat climate change, which poses the biggest threat to the places, nature and collections we care for. Given Robeco’s leading position in sustainable investing and long history and expertise in fixed income, we are delighted to provide seed capital to this innovative solution and we see Robeco as an ideal partner to help us achieve our commitment to becoming carbon net zero by 2030. We were also impressed with Robeco’s climate change engagement programme, targeting investee companies which fall behind in the transition to a low-carbon economy.”
According to Robeco, the investment will provide seed assets for its recently launched Climate Global Credits Fund. The fund invests globally in corporate bonds with explicit climate targets that contribute to the goals of the Paris Agreement, starting off with a 50% lower carbon footprint than the broader corporate bond market, and aiming to decarbonize 7% per year.
Katie Weber, Head of UK Institutional at Robeco said:
“We are honoured to have been awarded this mandate by the National Trust, a partner that, like us, attaches great importance to safeguarding the environment. Robeco’s Climate Global Credits strategy provides investors with the opportunity to be at the forefront of the transition to a low-carbon economy, and for the National Trust, this investment will help it achieve its own goals to tackle the causes of climate change.”