September 18, 2017 / 8:16 AM / 10 months ago

Carlsberg fund expects high yields from new green investments

COPENHAGEN (Reuters) - The Carlsberg Foundation, the main owner of Danish brewer Carlsberg, is investing 500 million Danish crowns ($80 million) in funds that work with water conservation, carbon reduction and sustainable food production.

The foundation will announce the investment at the opening ceremony of the New York Climate Week on Monday.

“We’re not just doing this to make good, we’re also doing it because it gives good yields,” Flemming Besenbacher, chairman of the foundation and the brewer, told Reuters.

The amount includes 175 million crowns in Parvest Aqua, a fund that invests in companies with technologies to clean and save water, expected to give an annual yield of 11.5 percent.

“Looking at the world today, water will become a scarce resource, and that’s one reason the Parvest Aqua fund has done so well,” Besenbacher said.

The foundation is also investing 175 million and 100 million respectively in the Parvest funds Leaders and SmartFood, and another 50 million crowns in private equity fund Impax New Energy III, which has an expected annual yield of 12-15 percent.

The 450 million crowns for the Parvest funds were invested in late May, while the 50 million for the private equity fund will be invested throughout 2017.

The foundation has 23.5 billion crowns of its 25.4 billion crowns of investments in Carlsberg where it owns 30.3 percent of the shares and 75.25 percent of the voting rights.

Carlsberg, the world’s third-largest brewer, has itself launched a programme to bring down its carbon emission and water usage drastically by 2030.

($1 = 6.2277 Danish crowns)

Reporting by Teis Jensen; Editing by Mark Potter

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