A new fund has been announced by an ex Man group fundmanager for the purpose of environmental action.
The fund will take a proportion (50%) of money contributed by individuals and will buy emissions contracts. The contracts will then be cancelled. In this way the fund attempts to recude the amount of emmissions business can produce.
The remainder will be invested as with any other hedge fund in order to make more money. Profits will be invested in gree startups and ecologicall sound technologies - or so it is said. The governace of the fund is not quite clear just now.
