News in the spotlight: Glass Lewis and Clarity AI merge
Glass Lewis and Clarity AI have completed a combination designed to connect sustainability analysis, corporate governance and stewardship within one platform. The transaction closed on September 23, 2026; financial terms were not disclosed.
Products and Services
USD 150m Amazon Reforestation Fund launched by Mombak
Brazilian carbon-removal company Mombak has secured the first close of its second reforestation fund, targeting USD 150m to finance restoration projects in the Amazon. The fund will also have access to a 200 million real (USD 38.9m) credit line from Brazil’s Climate Fund, operated by development bank BNDES. Mombak has signed a multiyear carbon-removal agreement with Salesforce, adding the software company to a buyer group that includes Google, Microsoft and McLaren Racing. The company expects to issue around 80,000 metric tons of reforestation carbon-removal credits by the end of 2026, following its first issuance earlier this year. Its initial fund raised USD 120 million from investors including AXA, CPP Investments and Bain Capital, supporting projects on 15 Amazon farms where nearly 15 million native trees have been planted. Mombak and BNDES expect demand for high-quality removals to expand beyond technology companies. Interest is reportedly increasing among oil, mining and steel companies, while falling costs and improved reforestation methods could make the credits accessible to a broader range of buyers.
Schroders introduces framework for climate adaptation investment
Schroders has launched a Climate Adaptation Investment Framework, developed with the California Public Employees’ Retirement System (CalPERS), to help investors identify commercially viable opportunities linked to physical climate risks. The framework assesses 102 adaptation activities across infrastructure, technology, products and services. Examples include flood protection, resilient buildings, water systems and early-warning technologies. Its purpose is to distinguish between adaptation measures that create broad economic value and those that can generate investable returns through durable business models and cash flows. The analysis finds a strong economic rationale for adaptation: 95 of the activities assessed are modeled to prevent economic losses equal to or greater than their costs. The median activity is estimated to generate USD 3.10 in avoided losses for every USD 1 invested. Schroders cautions, however, that avoiding future damage does not automatically create returns for investors. Many projects may deliver significant public benefits without offering predictable revenues or sufficient commercial incentives.
Mirova invests USD 10m in Namdev to expand clean mobility and renewable energy in India
Mirova has announced its first investment in India, committing USD 10m to Namdev Finvest, a non-bank financial company focused on financing clean mobility and distributed renewable energy. The investment will support loans for electric two- and three-wheelers, electric commercial vehicles, solar-powered agricultural equipment and other clean-energy assets. Namdev primarily serves underserved customers, including low-income households, small businesses and commercial drivers who often lack access to conventional financing. According to Mirova, India’s transition to electric mobility and decentralized energy requires financing models that can reach customers outside major urban centres. Namdev combines lending with technology-enabled credit assessment and an established distribution network, allowing it to serve borrowers with limited formal credit histories. The transaction was made through Mirova’s Gigaton Fund, which invests in emerging markets to finance distributed infrastructure and emissions-reduction projects. Mirova expects its capital to help Namdev expand its clean-asset loan book while strengthening access to finance for consumers and small enterprises.
ESG Data and Analytics
Glass Lewis and Clarity AI merge
Glass Lewis and Clarity AI have completed a combination designed to connect sustainability analysis, corporate governance and stewardship within one platform. The transaction closed on September 23, 2026; financial terms were not disclosed. The combined business will link portfolio construction and monitoring with governance research, engagement, proxy voting and reporting. Clarity AI contributes sustainability data, AI-driven analytics and technology, while Glass Lewis provides governance expertise, independent research and voting infrastructure. The firms say institutional investors increasingly want to replace disconnected systems and workflows with a single environment covering the full investment and ownership lifecycle. The platform is also intended to help companies understand how institutional investors assess their governance and sustainability performance. The deal expands the companies’ European capabilities, where regulatory and stewardship requirements are developing rapidly. Madrid will become the global centre of excellence for sustainability, data and AI innovation. The combined workforce exceeds 900 employees across 20 offices worldwide.
Leadership Announcements
MSCI appoints Sonia Kim to lead Sustainability Strategy
MSCI has appointed Sonia Kim as Head of Sustainability, placing her in charge of the company’s global sustainability strategy, products, commercial development and organizational performance. Her previous experience at GHGSat, S&P Global, Fitch and Moody’s points to a stronger focus on emissions intelligence, climate analytics and sustainability-related data. The appointment could improve MSCI’s ability to develop and sell sustainability products, particularly by combining Kim’s expertise with the company’s existing index, analytics and client relationships. The recent acquisition of First Street, which provides physical climate-risk data covering more than two billion structures, is a key part of this strategy. MSCI could use these capabilities to expand cross-selling and strengthen its broader risk-analytics platform. However, Kim’s appointment does not immediately change MSCI’s investment outlook. The company’s main near-term growth driver remains rising assets linked to its indexes and ETFs. At the same time, recurring net new sales in its Sustainability and Climate business are expected to remain flat or slightly negative.
Ed Christian appointed as Church and Charity Investment Director of EdenTree
EdenTree Investment Management has appointed Ed Christian as Church and Charity Investment Director, strengthening its offering to churches, charities, foundations and endowments across the UK. Christian joins after eight years at CCLA Investment Management, where he supported Church of England clients as well as charities and other not-for-profit organisations. He previously spent 12 years at JM Finn, managing multi-asset portfolios for private clients, charities, trusts and small companies. He also chairs the investment committee of children’s charity Coram and serves as a trustee of the Almshouse Association. In his new role, Christian will help develop EdenTree’s investment proposition for organisations with specific financial, governance and values-based requirements. The firm says his experience will support its efforts to build long-term relationships in a market where investors often need portfolios aligned with institutional purpose as well as financial objectives. His appointment is the first of two senior hires planned for the sector. Elizabeth Carter is expected to join later in 2026 as Head of Church and Charity.