BlackRock launches first CE fund
Global asset management company BlackRock has launched its first circular economy (CE) fund with the Ellen MacArthur Foundation – a sign that the sustainability movement is attracting the interest of global investors. The move is part of a new ‘global partnership’ between the organisations which “will bring together the power of investment and the value creation opportunity of a CE”. The fund itself is aimed at driving investments in businesses “already contributing to, or benefiting from, the transition to a CE”.
The foundation has identified finance as a means of accelerating this shift and says the partnership with BlackRock is a “milestone” in its “broader agenda of unlocking the power of finance and investments to scale the CE”. Its role is to give the company guidance - which will in turn shape the way money is invested – and the foundation says it is looking to do more work in finance in future.
