Kerogen Capital
Kerogen Capital, established in 2007, is an independent private equity fund manager focused on international energy sector. In 2021, Kerogen Capital also launched CelerateX, its dedicated energy transition investment platform. Kerogen Capital joined the Net Zero Asset Managers Initiative in July 2021 and made its initial Target Disclosure in June 2023.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
25% of total AUM (USD $0.5 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
3.4kg CO2 equivalent per boe produced.
Target(s):
We support carbon reduction in our portfolio companies and we target a 30-50% reduction in carbon intensity from our producing portfolio by 2030.
GHG scopes included:
In addition to Scope 1 and 2 emission, we, as a private equity manager, also disclose selective Scope 3 emissions including business travel and financed emissions.
Methodology:
Own/other methodology
Scenario(s):
We use IEA’s Sustainable Development Scenario (SDS) as a reference.
Additional information
Proportion of AUM committed:
We have excluded the AUM from our 2011 vintage Fund given it is approaching fund maturity in the short term. Furthermore, while we direct our decarbonisation efforts across the entire portfolio, our decarbonisation commitments are applied to portfolio companies where we have a controlling interest.
Policy on coal and other fossil fuel investments:
Kerogen’s investment strategy has been involved in energy transition for over 10 years. Our first energy fund in 2007 had exposure across the entire energy value chain including coal. By our second energy fund vintage in 2011, Kerogen removed coal from our investment mandate to decarbonise with the substitution of gas for coal. For our third fund vintage in 2015 we developed a carbon-light investment strategy which included a climate related investment exclusion list.
Further information: