Aon and Irish Life IM launch €500m climate transition fund

An equity fund focused on climate transition has been launched in Ireland by two pension providers.

Broker and professional services firm has partnered with life insurer and pension provider Irish Life Investment Management (ILIM) for a fund that is expected to be worth €500 million.

The launch makes it one of the largest investments to date by an Irish master trust – the new occupational pension scheme structure launched in 2023.

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The Aon Ireland MasterTrust will provide an initial €330 million for the fund.

This capital will be used to invest in firms working to meet the UN’s sustainable development goals.

More specifically, the fund will focus on investment linked to climate action, resource scarcity, basic social needs and healthy ecosystems.

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“Increasingly investors want to support the transition to a low-carbon economy and make a positive social impact,” Denis Lyons, head of investment, Aon Ireland.

“Responsible investments can help play a critical role in addressing global challenges including climate change and the pressing challenges facing our society.”

“Utilising our responsible investing expertise, proprietary quantitative research modelling framework and highly rated fund management capabilities, we are proud to collaborate with Aon on the development of this customised fund,” said Alan Duffy, ILIM’s head of sustainable integration and solutions.

“The solution allows investors to harness the opportunities that moving to a more sustainable future brings and enables its evolution over time.”

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