“How we address climate change will define our generation. The lives of hundreds of millions will be affected in the near future. It’s up to each of us individually and as businesses to have a clear action plan.” (Davide Serra, founder and CEO of Algebris)
Algebris is firmly committed to help fight the climate crisis and be an active participant in the ESG cause.
In addition to becoming a UNPRI signatory, Algebris has now put into action its carbon off-setting project. Through this project Algebris will aim to achieve carbon neutrality across the group by planting 25,000 trees and committing to 20 trees per employee per year. As of December 2019, 17,820 seedlings have already been bought and planting is well underway.
The Algebris carbon off-setting project is being carried out in Tanzania, in collaboration with Hakuna Matata, a registered UK charity founded by Davide Serra and his wife. Hakuna Matata focuses on helping Tanzanian orphaned children through education and healthcare programmes which they both care deeply about. By working with Hakuna Matata to implement its off-setting project, Algebris will help further enhance local economic and social value in the region.
In parallel to the above and to cement our commitment to the ESG cause, Algebris will incorporate an exclusionary and inclusionary ESG approach into its investment process. This will be achieved by developing an internal ESG research framework and an engagement process with the companies within the Algebris investment portfolios.
“Our actions and decision will be clear, transparent, and bold” – Davide Serra declares. “Climate change is like our conscience. Almost everything we do on this planet has an impact on climate change. That’s why at Algebris when we wake up each morning, we aspire to be better people, to run a better sustainable business. Investing is our mission and ESG is our soul.”
Full details on the methodology used to calculate Algebris’ carbon footprint and on the off-setting project can be found in the attached illustrative note here.