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Axa IM acquires carbon-offsetting platform

Purchased ClimateSeed through its alternatives arm

AXA Investment Management has acquired a carbon-offsetting platform through its Alternatives business.

AXA IM Alts announced it has purchased ClimateSeed through its Impact Investing Strategy to sit alongside its other nature-based projects.

Launched in 2018, ClimateSeed business acts as a marketplace connecting businesses with carbon reduction projects so they can offset their carbon emissions and support initiatives with high environmental and social benefits.

ClimateSeed’s portfolio includes 36 projects in 24 countries with an aggregated capacity of over four million verified carbon credits, a statement said. It will continue to be supported by BNP Paribas, which offers its clients carbon offsetting solutions through the platform.

Marco Morelli (pictured), executive chairman of AXA IM and a member of AXA’s management committee, commented: “This acquisition enhances AXA IM’s capacity to bring solutions to perfectly align our investments with AXA’s strategy and goals as well as answer the needs of our third-party clients.

“As corporates and governments globally embark on net-zero transition plans, the market for carbon credits is expected to significantly expand. Our investment in ClimateSeed is further evidence of our commitment to expand and scale up the range of activities that combat climate change and preserve biodiversity.”

Sebastien Nunes, CEO of ClimateSeed, added: “We recognise the importance of carbon reduction projects as a key role in fighting climate change in line with the IPCC ambitions and reaching global carbon neutrality. We are honoured to take part in this new development phase for ClimateSeed with AXA IM and are very thankful to BNP Paribas for believing in us as well as their continued support.

“We have the ambition to generate the maximum number of positive social, environmental impacts that can benefit the climate, biodiversity, and local communities. This decade is crucial to restore the planet and reverse climate change.”  

AXA IM Alts has €162nm of assets under management, as at end of March 2021.

Natalie Kenway

Natalie is global head of ESG insight for ESG Clarity. She won Editor of the Year at the Aviva Investors Sustainability Media Awards 2021. Winner of Aegon Asset Management's Institutional Journalist of...