ESG & Investing
Climate Group Backed by TCI Billionaire Has a Transition Warning
- Climate Arc says focus on net zero goals is inadequate
- Investors urged to instead shift attention to ‘transition’
A nonprofit backed by Chris Hohn, the billionaire money manager behind TCI Fund Management, says climate investors need to move into the highest-emitting sectors if they’re to effectively bring about a low-carbon energy transition.
It’s time for investors to come to grips with the “murky part” of climate finance, says Meryam Omi, the chief executive of Climate Arc. The group got its seed capital in 2022 from the Children’s Investment Fund Foundation, which is founded and chaired by Hohn.