The OnePlanetCapital fund will focus on climate change, the environment and consumer sustainability

The OnePlanetCapital fund will focus on climate change, the environment and consumer sustainability

The UK apparel sector is one of a number of industries set to benefit from a new specialist sustainability Enterprise Investment Scheme fund, set up by investment firm OnePlanetCapital.

Founded in 2019 by entrepreneurs Matthew Jellicoe and Ed Stevens, together with Tony Flanagan of Wilton Group, the OnePlanetCapital fund will focus on climate change, the environment and consumer sustainability by looking at environmental impact, social purpose and corporate governance in its investee companies.

The initiative comes as Prince Charles is asking companies to join the Earth Charter, which was set out at his virtual address to the One Planet Summit this week.

"In 2019 the UK became the first major economy to pass laws to end its contribution to global warming by 2050," says Matthew Jellicoe, co-founder of OnePlanetCapital. "This target requires a paradigm shift in the UK economy and enormous amounts of investment into the businesses of the future."

"Unprecedented change is required to our global economy. We are on the verge of a green industrial revolution and the world is waking up to the substantial changes needed to tackle the climate issues we face. This has been amplified by numerous lockdowns over the last 11 months which have underlined the fragility of the world as we know it."

Target companies include those taking steps to tackle emissions through renewable energy, energy efficiency and transport; as well as agricultural technology, pollution management or bio-diversity; and food companies that reduce climate change and environmental impact, fashion companies that reduce C02 emissions and pollution, or businesses in the recycling space.

"Decarbonisation is now being backed by all major developed economies including the US and China and huge amounts are being invested in green energy, green technology and services. Consumers are also becoming increasingly driven by sustainability and becoming more aware of a business' green and social purpose credentials," adds Jellicoe.