09 November 2007

Global Climate Change: Virgin Money to Launch Climate Change Fund

From Citigroup (NYSE:C)to Wells Fargo, (NYSE:WFC) the financial services industry is taking a hard look at climate change as an investment opportunity. The latest entry is Virgin Money (VM), Richard Branson's play to help people with a range of investment, insurance and loan products, including securing loans from friends, family and others.

In January, VM will launch the Virgin Climate Change Leaders Fund, a product to support green companies or companies that are working toward environmental challenges.

"Customers will be able to invest in companies at the forefront of reducing their environmental footprint...without having to compromise on performance," said CEO Jayne-Anne Gadhia in a statement.

GLG Partners LP, the largest independent alternative asset manager in Europe, will advise the fund.

"The Virgin Climate Change Leaders Fund provides investors the unique ability to combine a commitment to environmentally sound investing with the competitive advantages of the GLG Partners investment process," said Ben Funnell, a GLG co-founder.

Virgin Money is a subsidiary of Virgin Group.

For more on Virgin Money, read this article from the Times of London.

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