Active engagement fund to utilise thematic ocean expertise from The Ocean Foundation.
Credit Suisse and Rockefeller Asset Management (RAM) have launched an impact fund to address ocean health in line with the UN’s Sustainable Development Goal 14, ‘Life below Water’.
Credit Suisse Rockefeller Ocean Engagement Fund, which has raised US$212 million, is a listed equities (UCITS) fund, available to retail and institutional investors. Investment advisors to the fund RAM will employ a fundamental global equity strategy, investing in 30-50 stocks from a customized ocean engagement universe.
The fund’s investment process includes active engagement, utilising thematic ocean expertise from The Ocean Foundation. The fund’s core impact themes are pollution prevention, carbon transition, and ocean conservation.
“The ocean is amongst some of the least invested topics from the UN Sustainability Goals yet more than a third of institutional investors have expressed their interest in investing in the Blue Economy. We are happy to be leading the way to help investors to have an impact,” said Marisa Drew, Chief Sustainability Officer and Global Head of Sustainability Strategy Advisory and Finance (SSAF) at Credit Suisse.
“Constructive shareholder engagement is a longstanding and core part of Rockefeller Asset Management’s investment process in our pursuit to create shareholder value and catalyse positive change. We are excited about the interest in the fund and the opportunity to partner with Credit Suisse on this innovative solution which we hope will encourage others to increase their focus on the Blue Economy,” said Casey Clark, Rockefeller’s Global Head of Environmental, Social and Governance (ESG) Investments and Co-Portfolio Manager of the fund.
Credit Suisse and Rockefeller Asset Management, a division of Rockefeller Capital Management, say they will use input from The Ocean Foundation, a non-profit dedicated to conserving ocean environments around the world, to steer portfolio companies away from ocean-harming practices, through dialogue with their management teams.
The overall fund objective is to seek higher financial returns while helping companies to transition away from plastic pollution, mitigate sea level rise, mitigate ocean acidification and help improve sustainable fishing practices.
Established in 2003, The Ocean Foundation is an international community foundation with a core mission to “support, strengthen, and promote organizations dedicated to reversing the trend of destruction of ocean environments around the world”. The foundation hosts and supports more than 50 projects and has grantees in over 40 countries on six continents, focusing on building capacity, conserving habitats, ocean literacy, and protecting species.