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July 7, 2021

AXA IM acquires ClimateSeed from BNP Paribas

By Verdict Staff

AXA Investment Managers (IM) has acquired voluntary carbon off-setting platform from BNP Paribas Securities Services.

The acquisition, which expands the existing investment portfolio of climate focused solutions, was carried out through AXA IM’s Impact Investing Strategy managed by AXA IM Alts.

AXA IM executive chairman Marco Morelli said that the investment in ClimateSeed is further evidence of its commitment to expand and scale up the range of activities that combat climate change and preserve biodiversity.

Established in 2018, ClimateSeed connects businesses looking to offset their carbon emissions with project developers offering carbon reduction projects with high environmental and social advantages.

Its portfolio includes 36 projects in 24 countries with an aggregated capacity of over four million verified carbon credits.

AXA IM’s investment in ClimateSeed is in line with the Impact Investing Strategy’s goal to catalyse solutions that fight climate change and preserve biodiversity.

Furthermore, it is said to complement the strategy’s diversified portfolio of nature-based projects facilitating carbon avoidance and sequestration.

ClimateSeed CEO Sebastien Nunes said: “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.”

BNP Paribas head of Company Engagement Antoine Sire added: “AXA IM will now support ClimateSeed through the next stage of its development.

“BNP Paribas is as engaged as ever in its fight against climate change and continues to propose ClimateSeed through its network while developing its first-class carbon offsetting solutions for its corporate and institutional clients.”

Wealth manager Lombard Odier expanded its PrivilEdge fund platform, through a partnership with AXA Investment Managers (AXA IM), to provide investors with more exposure to eurozone equities.

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