The Daily Mail has set its sights on greener pastures by launching an energy transition fund through a new collaboration with Moore Capital Management.
US private investment management firm Moore Capital is injecting $200m (£158m) into Renown Capital Partners, a new international investment platform focused on energy transition.
Daily Mail and General Trust (DMGT) is also investing an undisclosed sum into the joint venture.
Renown’s primary focus will be on early and growth-stage businesses who are striving to spearhead the energy transition movement.
Fundraising and initial investments are expected in the first quarter of next year.
Renown intends to tap into Moore Capital’s investment expertise in the sustainability sector while making the most of DMGT’s B2B events business.
James McIntyre will lead Renown, at the helm of an investment team from Moore Capital. Archie Soames will lead business development.
Earlier this year, the London School of Economics published an article accusing the Daily Mail of “still promoting climate change denial”.
It said the newspaper has an editorial line “of denying the risks of climate change.”