3 former CEOs of large European pension funds and a large US endowment back the creation of a €20-40bn Climate Endowment together with a group of international investors and entrepreneurs from AQAL AG and Wermuth Asset Management GmbH. The Climate Endowment will target lower risk, asset heavy, illiquid investments in sustainable and commercially viable technologies and business models resulting in strong reduction in global CO2 emissions. The investment approach will follow the endowment model of investing across all asset classes with a large part of illiquid assets. The Climate Endowment pursues the double target of achieving endowment style returns and reducing over 30 years of investment ~2% of current global CO2 emissions (approx. equivalent to current annual CO2 emissions of Germany).