Apostle will offer exposure to global carbon markets and target 2 percentage points of outperformance against the global carbon benchmark a year.
Apostle Funds Management launched a new carbon strategy as it seeks to position itself to capitalise on increased appetite to invest in emission credits.
Heavy emitters are expected to use carbon credits in great numbers and traders are looking to profit from that trade.“Compliance carbon markets have a strong outlook and are an essential component of a low-emission economy. These markets are regulated and mandated by governments worldwide, with oversight and control mechanisms in place to ensure integrity and scalability.
The January Chubb review followed accusations a large swath of the $5.4 billion of carbon offsets were in effect fraudulent, and criticisms that participants were being rewarded with billions of dollars in payments for activities that failed to absorb additional carbon, or avoid emissions that would never have occurred.
Facilities covered by the mechanism made up 28 per cent of the country’s total emissions in 2020-21. Those would be compelled to cut emissions by about 5 per cent a year, worth more than 200 million tonnes of greenhouse gases.
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