Quintet wants to raze jungle of jargon and plant new trees with carbon-offset fund

The wealth manager with big Nordic ambitions wants to start a movement in the investment fund industry with its new Earth fund by purchasing carbon credits to offset emissions, says head of sustainable investing James Purcell in an interview with AMWatch. This strategy has, however, been tricky for other companies to land.

Quintet Group CEO Jakob Stott and Head of Sustainable Investing James Purcell | Photo: PR / Quintet Private Bank

Last week, Quintet Private Bank launched what it describes as the world’s first multi-asset, climate neutral investment fund.

The UCITS fund, called Quintet Earth, has been launched with EUR 280m in seed capital from bank’s clients and applies a passive strategy that equally tracks an equity and a bond index in the forms of MSCI World Low Carbon Equity Index and the Bloomberg MSCI Global Green Bond while offsetting carbon emissions from the equity bucket. This is done by an annual purchase of carbon credits derived from community reforestation projects in a collaboration with myclimate, which is a non-profit organization based in Switzerland and specializing in carbon offset projects.

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