Follows completion of merger between Just Climate and Good Karma Partners
London and São Paulo, 8 May
Just Climate, a specialist investment business established by Generation Investment Management to scale solutions for the highest-emitting, most off-track sectors of the economy, and Good Karma Partners, an investment manager backing climate solutions, announced today the legal completion of their merger. The closing integrates the operations into a single firm, Just Climate, with a shared mission to establish climate-led investing as a capital allocation imperative for institutional investors globally.
Just Climate is launching its Latin America strategy to help bridge the region’s climate finance gap by acting as a catalytic investor and mobilising capital at scale. Despite the region's strategic importance to global supply chains and natural resource security, Latin America remains underfunded, limiting the pace at which promising solutions in sustainable agriculture, ecosystem restoration and clean industry can scale. With more capital, the region has significant potential to accelerate adoption and innovation of sustainable solutions.
Just Climate’s Latin America strategy aims to provide capital solutions to companies that strengthen climate resiliency in key sectors across the region, with a deeper focus on economies like Brazil, Colombia and Mexico. As part of this effort, Just Climate and the Inter-American Development Bank (IDB Invest) signed a Memorandum of Understanding to collaborate on the strategy and are working for IDB Invest to join as a founding investor.
Eduardo Mufarej, Co-Chief Investment Officer of Just Climate, said: “We are joining forces to deploy institutional capital in Latin America at scale and to accelerate a sustainability transition that is ambitious and deeply rooted in local priorities. Our aim is to unlock investment in critical sectors, including renewable energy, food systems and nature, infrastructure, and low-carbon technologies, while ensuring these investments create growth opportunities across the region.”
Based in São Paulo, Just Climate’s Latin American team contributes to the firm’s global industrial and nature investment strategies, while leading investment activities in the region. Mufarej will continue to oversee the firm’s investment activities in the region alongside a strong regional leadership team based in Just Climate’s São Paulo office. Good Karma Partners Fund II remains under the management of the same regional team which is now integrated with Just Climate.
Just Climate has built a team of global and regional experts to develop a robust portfolio of resilient and resource-efficient solutions, spanning across the highest-emitting sectors. The priority is to operate with an integrated approach that balances environmental impact, financial return and scalable solutions.
Clara Barby, Senior Partner of Just Climate, said: “Latin America is home to extraordinary natural capital, rich biodiversity, and a resilient, forward-looking population. The region’s resources offer an opportunity to show how the transition can drive sustainable economic growth that works for people. Through this merger, we are further strengthening our ability to channel capital and expertise to support companies and projects in an effective and scalable way.”
About Just Climate
Established by Generation Investment Management, Just Climate is a specialist investment business focused on scaling solutions for the highest-emitting, most off-track sectors of the economy. The challenge of achieving a net-zero world and addressing climate-related risk is huge, urgent and needs tremendous mobilisation of capital. Just Climate's mission is to establish climate-led investing as a capital allocation imperative for institutional investors globally. Just Climate LLP is an Appointed Representative of Generation Investment Management LLP which is authorised and regulated by the Financial Conduct Authority. For more information, please visit us at justclimate.com.
About IDB Invest
IDB Invest is the private-sector arm of the Inter-American Development Bank (IDB) Group, dedicated to promoting economic development in Latin America and the Caribbean through private sector engagement. With a portfolio of $21 billion in assets under management and over 394 clients across 25 countries, IDB Invest offers tailored financial solutions and advisory services to meet diverse client needs. The institution focuses on sectors such as clean energy, agriculture modernization, transportation systems, and financial access expansion, reflecting its strong commitment to fostering sustainable economic growth and social inclusion in the region. For more information, please visit idbinvest.org.