Mostly passive AMP Wealth gets active with climate impact fund

Aaron Klee, AMP NZ general manager investment management and services, says the fund will differ from most other sustainable funds in the market by specifically investing in initiatives that deliver long-term structural change to mitigate climate change.

“The intention with this fund is to provide capital investment to businesses to develop and build the infrastructure necessary to shift the economy from one built on yesterday’s model, to one that builds the capability towards an economy with a materially lower carbon footprint,” he said in a statement.

“That is materially different to just owning shares in good companies or avoiding investment in companies involved in negative industries which only go so far in delivering good outcomes for the planet. We want to fund new initiatives that help with climate change, and our customers will be part of that opportunity.”

Klee says that could involve building new renewable power generation and storage, as well as capital investment in technologies that enable local and global economies to evolve significantly.