The investment firm co-founded by Al Gore said the time has come for a fundamental shift in capital allocation if the planet is to avoid cataclysmic overheating.
Generation Investment Management LLP, which oversees $36 billion, said Wednesday it’s teaming up with Goldman Sachs Asset Management, Microsoft Climate Innovation Fund and Harvard Management Co., among others, to launch Just Climate, which will make investments pegged to limiting global warming to 1.5 degrees Celsius above pre-industrial levels. Goldman and the other partners will be co-investors in the venture. Generation declined to say how much Just Climate will have in initial capital.
