Wellcome, the £29bn endowment foundation, has pledged that its vast portfolio of investments in shares, hedge funds, private equity and property will become carbon net zero before 2050, the largest such pledge by a UK charity.

Wellcome, one of the world’s biggest charitable donors, will work with fund managers that oversee assets on its behalf, as well as the companies in which it holds a direct investment to encourage net zero strategies.

First steps will include devising standard measurements across all its assets, given a lack of data to gauge what its hedge fund and private equity fund managers are doing to meet net zero objectives in their portfolios and co-investments.

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Source: Financial Times

By Daniel Thomas and Attracta Mooney