Al Gore's venture raises $175 million for land restoration

Al Gore's Generation Investment Management has raised $175 million to invest in projects that restore land damaged by agriculture and deforestation. The funding will support the climate strategy of Just Climate, the firm's dedicated climate initiative. Microsoft and the California State Teachers' Retirement System are among the main investors. With this new funding, Generation Investment Management manages a total of $1.8 billion in assets. This amount also includes a fund focused on reducing emissions from heavy industry. Clara Barby, a senior partner at Just Climate, highlighted the importance of addressing land use to combat climate change, stating it's the next major focus after the energy transition. Agricultural practices that harm the environment contribute significantly to global warming, accounting for about a third of the world's greenhouse gas emissions. Therefore, improving land management and food production practices is seen as essential in addressing the climate crisis. Just Climate has already made an initial investment in a UK startup that helps measure environmental impacts. The firm is now looking into various sectors for future investments. These include food supply chains, ecosystem restoration, waste management, and technologies that promote sustainability. Co-Chief Investment Officer Eduardo Mufarej emphasized that the firm aims to make significant investments in innovative areas, rather than typical renewable energy projects. They are exploring solutions for wildfire management, waste reduction, and monitoring soil health. Al Gore, a long-time climate advocate, founded Generation two decades ago to focus on environmental and sustainable investments.