SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and ENGIE Factory, the startup studio of ENGIE Group, a French multinational utility company, are joining forces to invest in a venture aimed at bridging the financing gap in conservation projects through the use of carbon credits.

“Sustainability is part of our four high-conviction themes at SC Ventures — investing in conservation is not only a societal imperative but also a smart business decision,” said Alex Manson, CEO, SC Ventures.

The venture will apply emerging technology to identify and evaluate conservation projects globally, enabling investments into these projects. The venture, which is expected to launch in 2024, aims to address the planet’s pressing environmental challenges while delivering attractive returns for investors.

“The partnership with SC Ventures is an example of the power of collaboration to transform the future and drive positive change. We are looking forward to sharing our expertise in high-quality carbon credits to unlock new opportunities for investment in conservation and create meaningful impact for our planet,” said Caroline Guyot, MD of Engie Factory.