A Norwegian private equity firm is taking a novel approach to investing in the oil and gas industry. EV Private Equity, which was founded in 2002 and has raised more than $1 billion, aims to create "positive impact through technology by reducing CO2 emissions," managing partner Helge Tveit tells Energy Voice.
That means investing in companies that help their clients reduce their CO2 emissions, which is a big problem in the oil and gas industry, which has been hit hard by the oil market downturn. "The volatility that we're seeing and still seeing in oil and gas,the feast and famine is a disadvantage," Tveit says.
"There are many, many businesses within oil and gas that could deliver substantial impact, and we have made a number of those investments in the past, but with this investor preference to have less exposure to oil and gas that we see, that's why we decided to exclude that going forward."
Tveit says the company's investments are evaluated using a sustainability framework called xIQ, a software tool that EV has also invested in.
"What we're taking into account is the enabling effect for the portfolio company that we're investing in,how much are they enabling their clients to reduce their CO2 emissions," Read the Entire Article
A customized collection of grant news from foundations and the federal government from around the Web.
Leading Bangalore-based rural kindergarten and remedial school programs provider, Hippocampus Learning Centres, is set to expand its operations in South India, thanks to Unitus Seed Fund, India’s most active seed-stage impact investor.