AlbaCore Capital Group Launches Carbon Conscious Investing Solution

European credit specialist AlbaCore Capital Group (“AlbaCore”) is pleased to announce the launch of a new solution focusing on Carbon Conscious Investing (“CCI”), the first European private market solution to provide line-by-line greenhouse gas (“GHG”) reporting for a corporate credit portfolio¹.

The model and methodology, developed in-house by AlbaCore, reflects the portfolio’s GHG footprint for all scenarios including when public data is not available. The GHG data is integrated into AlbaCore’s internal risk system that is monitored on an ongoing basis to continue to refine the CCI footprint analysis as data quality improves and regulatory pressure encourages more companies to report.

The CCI solution will provide quarterly reporting on the GHG footprint of the portfolio as a whole and on a name-by-name basis, which is verified by a third party. This enables AlbaCore’s CCI investors to measure the externalities of their investments in relation to the GHG footprint across asset classes.

Matthew Courey, Founding Partner and Chief Operating Officer comments “We are excited to launch this innovative solution and be a thought leader in the space. Our aim is to engage more investors on the GHG footprint of their investments, and to consider their portfolios’ carbon-adjusted returns as part of their overall analysis. By offering this type of transparency, we are taking the first step in order to make this possible.”

David Allen, Managing Partner and Chief Investment Officer added “We believe it is important as a firm to be a first mover and lead by example. Our view is that the time will come when carbon is priced into risk and therefore accurately modelling the associated footprint is essential. We are positioned to be well ahead of this trend and welcome this coming into the mainstream.”

As CCI committed capital grows, the AlbaCore team will seek to secure independently verified carbon credits on behalf of the CCI investors to start to neutralize the CCI part of the portfolio’s footprint. This is done in partnership with Abatable, a carbon procurement platform with a portfolio approach to carbon credit selection, offering full transparency on the type of project and verification method.

Valerio Magliulo, Co-Founder of Abatable commented “We are delighted to partner with AlbaCore on this unprecedented investment opportunity that facilitates progress towards a net zero world. With an increasing number of asset managers and asset owners announcing net zero goals, we see this as a clear example of thought leadership on how to operationalize and achieve these goals.”

AlbaCore as a business has offset their operational GHG footprint, including both nature based and technological carbon removal solutions, in partnership with Abatable. Offsetting is one way to reduce the environmental impact of the business, and AlbaCore recognizes a holistic and adaptive approach is the most effective. Broader measures to reduce the environmental impact include AlbaCore’s London headquarter using only renewable energy, as a business aiming to be paperless on post and recycling waste, as well as ongoing training of the team on environmental and sustainability themes.

About AlbaCore Capital Group

AlbaCore Capital Group is one of Europe’s leading specialist credit investors focusing on public and private corporate credit markets. The senior investment team have been investing with this hybrid strategy for over a decade. Founded in 2016, AlbaCore has invested over $20bn² for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments.

AlbaCore is focused on consistently outperforming the market in the long term while protecting investor capital. The credit selection process is based on fundamental research with a focus on capital preservation, ESG factors and risk-adjusted returns.

Headquartered in London with offices in New York and Dublin, AlbaCore has a partnership approach with values at the center of the AlbaCore community.

www.AlbaCoreCapitalGroup.com

About Abatable

Founded in London in 2021, Abatable provides carbon offsetting, financing and procurement solutions for companies and financial institutions. The founding team includes Maria Eugenia Filmanovic, a former Vice President of ESG and Impact Investing at Goldman Sachs with experience advising corporates on forestry investments and carbon procurement, and Valerio Magliulo, a former Product Manager at Monzo, Google and Facebook.

www.abatable.com

¹ To AlbaCore’s knowledge. This document is provided to professional investors only for information and discussion purposes only. This document cannot be shared or copied without AlbaCore’s approval.
² Invested capital is the sum of all 'buy' trades for all AlbaCore mandates since inception to 31 October 2021, and includes recycled capital and co-investment.

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