HSBC Global Asset Management has teamed up with climate change advisory firm Pollination Group to create an asset management venture focused on"natural capital", which seeks to put a value on resources such as water, soil and air to help to protect the environment.
The new venture - HSBC Pollination Climate Asset Management - will look to raise up to US$1 billion for its first fund next year, targeting investments that"preserve, protect and enhance nature over the long-term", it said in a statement on Wednesday.It aims to attract capital from institutional investors, including sovereign wealth funds, pension funds and insurers into natural capital investments.
"Clients are increasingly focused on environmental matters and this initiative is designed to help them achieve a financial return, while at the same time creating a positive impact on the world’s biodiversity," said HSBC Global Asset Management Chief Executive Nicolas Moreau. HSBC Global Asset Management and Pollination will both provide resources to the planned joint venture and it will operate independently.