Ikea puts $250m in green investment

Imas, a foundation funded by Ikea, is setting aside $250m to seed a sustainable equity fund designed by London-based Osmosis IM, an environmental specialist manager majority owned by management and employees.

The foundation focuses on asset allocation and has a wide range of investments that also includes renewable energy and energy transition companies with a mandate to invest up to 15 per cent in green infrastructure.

The Osmosis resource-efficient ex-fossil fuel fund will receive the funds, a new fund that targets “maximum resource efficiency exposure while maintaining a tight tracking error to the MSCI World”. The Fund excludes companies that generate more than 5 per cent of their revenues from fossil fuels or nuclear power generation, companies with any revenues from nuclear and controversial weapons and civilian firearms, tobacco companies and companies in breach of any of the UN Global Compact Principles.

Since its launch in 2009, Osmosis has acquired government pension funds, state pension funds, insurance companies, foundations, endowments, family offices and banks as clients.

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