Camco Clean Energy
Camco is a specialist climate and impact fund manager, leading the transition in emerging markets. Camco joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.
100% of total AUM
initially committed to be managed in line with net zero
USD $0.203 billion
currently committed to be managed in line with net zero
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio coverage baseline
100% of AUM in material sectors is considered net zero, aligned, or aligning
Allocation to climate solutions baseline
100% of AUM allocated to climate solutions
Portfolio coverage target
100 % of AUM is consider net zero and aligned to date and in future.
To implement its investment strategy, Camco has defined a set of long-term targets:
1. Reduce GHG emissions: Camco is committed to financing projects and companies that mitigate climate change in line with the IPCC’s calls for a 50% global reduction in CO2 emissions by 2030 to limit global warming below 1.5 ̊C. Furthermore, we are committed to demonstrating the technical and financial viability of innovative climate-resilient infrastructure that contributes to a transition to net zero. Practically, this means only investing in:
a. renewable energy solutions that decarbonise energy systems;
b. energy efficiency measures that reduce energy demand and intensity;
c. sustainable adaptation solutions that strengthen users’ ability to understand and respond to physical climate risks and related impacts; and
d. innovative solutions aligned with net zero carbon and climate resilient growth.
2. Increase access to clean and affordable energy for all
Promote the SDG: We aim to achieve positive social and economic impacts in all of our activities, which contributes towards several of the SDGs, as outlined in Camco’s 2021 Impact Report.
Allocation to climate solutions target
100% of AUM allocation to climate solutions.
Camco is a climate and impact fund manager, leading the clean energy transition in emerging markets. We only invest in climate
solutions in line with the EU taxonomy criteria.
Each fund has absolute mitigation targets, which represent the funds lifetime mitigation potential:
– REPP 100% AUM, absolute mitigation target 6.9 m tCO2
– Spark 100 %, absolute mitigation target 2.2 m tCO2
Camco managed Renewable Energy Performance Platform (REPP) provides catalytic finance to renewable energy projects and developers in Africa and is funded by the UK Government. More information on REPP and its achieved impact is available here.
Spark Energy Services (Spark) finances energy efficiency and captive solar projects in Africa’s commercial and industrial sector, building a diversified and well-structured portfolio of clean energy projects across Africa with a strong ESG profile.
The expected cost effectiveness of the mitigation actions over all Camco managed funds combined lifetime is 30,738 tCO2e per mUSD invested. More information available on Camco’s Impact Report.
GHG scopes included:
Camco has been reporting carbon footprint since 2019 in accordance with the Greenhouse Gas Protocol’s GHG Inventory Reporting guidance. There are no material scope 1 or 2 emissions as all investments under management target climate solutions. In our own operations, no scope 2 emissions were generated since the electricity purchased was from renewable sources. Therefore, the only emissions generated in 2021 where in scope 3, as follows:
-business travel (category 6): 41.57 tCO2e,
– employee commuting (category 7): 3.04 tCO2e,
– upstream leased assets (category 8) 5.57 tCO2e
Camco has offset its carbon footprint with Gold Standard’s certified voluntary climate credits from projects with verified benefits to local communities and ecosystems.
Net Zero Investment Framework
Camco’s investment strategy is in line with the net-zero emissions pathway presented by IEA: Net Zero by 2050 A Roadmap for the Global Energy Sector.
Policy on coal and other fossil fuel investments:
Yes. In line with our investment strategy, we only invest in climate solutions.
For more information