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AXA IM acquires carbon off-setting platform from BNP Paribas

News Team, 08/07/2021

AXA IM has acquired the voluntary carbon off-setting platform ClimateSeed from BNP Paribas Securities Services.

The deal has been made through its impact investing strategy managed by AXA IM Alts, adding to its existing investment portfolio of climate focused solutions. The investment aligns with the impact investing strategy’s ambition to catalyse solutions that combat climate change and preserve biodiversity.

Launched in 2018, ClimateSeed acts as an innovative marketplace, connecting businesses seeking to offset carbon emissions with project developers offering carbon reduction projects alongside environmental and social benefits.

Through the investment, AXA IM will fund ClimateSeed’s operating activities, support its development and will seek to broaden its portfolio through additional purchases. The portfolio currently includes 36 projects in 24 countries with an aggregated capacity of over four million verified carbon credits

BNP Paribas will continue to support ClimateSeed, proposing the platform to its clients through its distribution network. The bank also offers tailored carbon offsetting solutions to its clients as part of its wider carbon solutions offering and its overall engagement against climate change.

Marco Morelli, executive chairman of AXA IM and a member of AXA’s management committee, said: “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.”

Sebastien Nunes, chief executive officer of ClimateSeed, said: “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.”

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