Global agribusiness and food company Bunge Limited has acquired Climate Change Capital Limited (“CCC”), a U.K company that manages investments in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation.
Daniel Rudolph, Managing Director, Bunge Financial Services Group, said, “Bunge’s Financial Services Group has been active in carbon markets since their inception, both as a buyer of carbon credits and an advisor to other market participants. The transaction builds on this long-term presence, combining two established players in sustainability markets and advisory services to create an organization with deep expertise and global reach. We also see strategic and operational synergies resulting from the combined business, including an enhanced ability to expand service offerings.”
James Cameron, Vice Chairman, CCC, said, “Bunge’s Financial Services Group is well-placed to support the best interests of
existing investors and provide a stable platform to develop new investment opportunities. As the world’s population grows, putting pressure on scarce resources, there is a tremendous opportunity for companies like CCC and Bunge to work to transform the way societies cultivate, manufacture, distribute, consume and develop.”
Fee income derived from CCC’s advisory and asset management businesses will be fully consolidated for reporting purposes. Assets in CCC’s underlying investment vehicles are owned by the investors in the vehicles and are not subject to consolidation in Bunge’s financial statements.
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