Carbon Growth Partners has reopened its Carbon Growth Fund No. 2. It’s seeking to raise US$200 million by mid-2024, investing in a diversified portfolio of carbon credits and carbon offset projects.

We reported on an additional $10 million being added to the fund at the end of last year, but with strong demand, the fund has reopened its second offering. 

“Carbon remains one of the most under-priced asset classes and we anticipate significant price rises as companies meet their commitments to reduce net emissions,” said CEO Rich Gilmore. 

“Reopening Carbon Growth Fund No. 2 will allow investors to capitalize on that opportunity while providing finance to high-quality, nature-based and technology-based solutions that accelerate climate action around the world.”

CGP’s track-record has seen it invest more than US$230 million in carbon projects projects since 2021. This has resulted in the verified reduction or removal of 37 million tonnes of greenhouse gases. The investments have been mapped to addressing 15 of the 17 SDGs.

It invests in projects covering 27 countries across five continents. Priority investments include nature-based climate solutions, renewable energy and efficient household devices. 

Projects are evaluated using a comprehensive framework to ensure the quality and integrity of the outcomes, which considers a range of environmental and social factors, and seeks to ensure equitable benefit sharing with local communities. The current capital raise for Carbon Growth Fund No.2 will close on June 30, 2023.

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