Annual reporting.
Impact Reports.
Each year we publish a full impact and ESG report, and every report since the first is here to download. The reports cover portfolio emissions across Scope 1 to 4, ESG_VC framework assessments, sustainability goals tied to UN SDGs and the Planetary Boundaries framework, and operational and portfolio metrics.
Latest report · Published July 2026.
FY2026 Impact Report.
The first report to cover both Climate Fund 1 and Climate Fund 2. Portfolio companies avoided 869 tonnes of emissions in the year. Every portfolio company reported through the ESG_VC framework for the third year running, and the Planetary Boundaries assessment now extends to the three newest companies.
- 869 tonnes of emissions avoided by portfolio companies.
- Mindful Money Awards 2026: Best Impact-focused Investor, and Best New Ethical or Impact Fund for Climate Fund 2.
- First Climate Fund 2 investments, Liquium and NovoLabs. New Climate Fund 1 investments in Dot Ingredients, Mara Bio, and Ocean Balance.
Get the report by email.
Previous reports.
Every report since FY2023.
The methodology has deepened each year, from the first systems-approach report to portfolio-wide ESG_VC results and the Planetary Boundaries assessment. Read them in sequence to see how the measurement has matured.
FY2025 · Published July 2025
FY2025 Impact Report
Follow-on investments into Cleanery, Liquium, and NovoLabs, and a first investment in Teiny. Introduces the Planetary Boundaries framework to the fund's impact assessment. Second year of ESG_VC reporting across every portfolio company, and eight Mindful Money awards in total since launch.
Year ended 31 March 2025 · 20-page PDF
Download the PDF →
FY2024 · Published July 2024
FY2024 Impact Report
First year of portfolio-wide ESG_VC reporting, as part of an initiative led by NZ Private Capital. Sets out the investment-selection process, the additionality test, and the Climate Impact Committee's role. Mindful Money Awards winner in the Best Climate Action Investor category for the second year.
Year ended 31 March 2024 · 18-page PDF
Download the PDF →
FY2023 · Published August 2023
FY2023 Impact Report
The fund's first Impact Report. Sets out the systems approach to investment selection, the wide-boundary analysis of climate and broader ESG impacts, and alignment with the UN Sustainable Development Goals. The baseline every report since has built on.
Year ended 31 March 2023 · 19-page PDF
Download the PDF →"Judge us on the volume of avoided emissions from our portfolio companies, a number we expect to accelerate sharply over the years to come."
FY2026 Impact Report · July 2026.
How we measure.
The frameworks behind the numbers.
Governance
Climate Impact Committee and IRIS+ →
Seven independent climate-impact experts use the IRIS+ metrics to measure and validate the climate impact of each investment.
Track record
Climate Fund 1 →
New Zealand's first climate-focused venture fund. Ten companies across water, energy, waste, food, marine, and industrial decarbonisation.
Documents
Wholesale-investor documents →
The Climate Fund 2 Information Memorandum, email-delivered after wholesale-investor self-certification, and the FMCA Warning.