The latest developments in and around investments attuned to concerns about the environment, society and governance.

Mourant, a law firm, has advised Acumen, a community of entrepreneurs, investors and philanthropists tackling poverty, on how to form Acumen’s new Guernsey impact fund. The fund is called the Hardest to Reach (H2R) initiative. 

H2R is a blended finance strategy which aims to activate markets for clean and inclusive energy in sub-Saharan Africa.

Acumen’s latest initiative, which has secured $246.5 million in approved and committed capital, aims to achieve positive social and climate impact, while also generating financial returns for investors through supporting off-grid solar distribution into sub-Saharan Africa's markets.

A diverse set of public and private institutions are backing the initiative. They include the Green Climate Fund, International Finance Corporation, Shinhan Bank, British International Investment, Soros Economic Development Fund, Nordic Development Fund, Signify Foundation, and ImpactAssets.

Acumen launched H2R at COP28 in 2023. The initiative aims to reach nearly 70 million people across 17 countries, including 50 million first-time energy users in areas with some of the lowest electrification rates in the world.

The Mourant team was led by Guernsey investment funds specialist, Frances Watson (partner), supported by Alasdair McKenzie (senior associate) and Lauren Ingrouille (associate).

"Our team's deep understanding of Guernsey’s regulatory landscape, combined with close collaboration with Acumen and our instructing onshore counsel, enabled the successful completion of this important transaction,” Watson said. 

Using Guernsey as the jurisdiction for this initiative highlights how the island is positioning itself. For example, the financial centre points out that it acts as a conduit of capital into the UK. A report carried out by Frontier Economics, commissioned by Guernsey Finance in 2024, shows that Guernsey-based funds channel assets worth £57 billion in the UK, supporting investment into the UK economy. In the second quarter of 2024, the total net asset value of Guernsey funds increased by £3.2 billion ($4.25 billion), reaching $295.7 billion, representing a 1.1 per increase over the quarter.