Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing GBP 452 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
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Data as at 31 March 2023
Why M&G Catalyst chose to invest in Climeworks
- 01 mins 48 secs
Learning: Unstructured
M&G Catalyst portfolio company Climeworks, has been selected by the US Department of Energy to move forward with a direct air capture project in Louisiana. The aim is to remove one million tonnes of CO2 a year from the atmosphere: one of two projects sharing $1.2 billion in federal funding under the Bipartisan Infrastructure Law. In this video, head of Catalyst EMEA Zachary Webb explains why we chose to invest in Climeworks back in early 2022:Speaker 0:
when we scour the planet trying to find those most purposeful businesses and management teams, we really want to try to find the ones that have the biggest scale potential. That's the core of our purpose and mission. The carbon capture industry is so nascent. We've got very high conviction
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that this is going to be a massive sector. We believe that, um, climb works is both a revolutionary business, but it's also a market leader.
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If we want to reach Net zero, we not only need to reduce our emissions by about 90% but we also need to actively remove whatever is still in the atmosphere. We are big friends of planting trees. Unfortunately, it's not enough to solve the problem. We take CO two out of the air and we turn it to Stone. We're moving it permanently from the atmosphere.
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Our ambition is to in this decade get to a scale where one plant on itself can remove about 1 million tonnes of CO two from the atmosphere every year and then build 1000 of these plants until 2050. So the ideal investor for me is somebody who really understands technology and hardware. But
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also an investor who has, um, patient capital, right, who is looking for to build an industry long term. So working with MG catalyst, which has been created specifically for these kind of breakthrough technologies, has been really great, really provides us to comfort that it's long term capital and their interest in really solving the problem and not just achieving a very short term return.
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