JLL Foundation accelerates climate mitigation by investing $4.75M in loans to 18 new climate-impacting startups
Rhea-AI Summary
JLL Foundation, backed by JLL (NYSE: JLL), has invested $4.75 million in zero-interest loans to 18 climate-focused startups in 2024. The Foundation's circular funding model saw $1.5 million in loan repayments, while graduate companies attracted $49.4 million in additional funding.
The 2024 recipients join 47 companies that have received $11.7 million in 49 loans throughout the Foundation's history. Among the funded startups, 89% focus on built environment decarbonization, 50% on waste reduction, 28% on social impact, and 22% on water consumption reduction. The Foundation expanded its reach to 11 countries, including Brazil, India, Senegal, and Uganda.
Notable 2024 recipients include Mycocycle, Novoloop, Solarbox, Cyanoskin, and Courageous Land. The Foundation also appointed Erin Meezan as Executive Director, effective January 1, 2025, while maintaining her role as JLL's Chief Sustainability Officer.
Positive
- Record loan repayments of $1.5M in 2024
- Portfolio companies attracted $49.4M in additional funding
- Geographic expansion to 11 countries including emerging markets
- 89% of funded companies focus on built environment decarbonization
Negative
- None.
News Market Reaction
On the day this news was published, JLL gained 0.63%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Foundation names JLL Chief Sustainability Officer (CSO), Erin Meezan, Executive Director
Circularity is key to JLL Foundation's model, as all funds returned from loans granted are invested into new loans, creating a virtuous cycle. A record number of loans were repaid in 2024, equating to just under
"We continue to be encouraged by the success of JLL Foundation loan recipients and the meaningful impact they are driving – whether that be decarbonizing the building sector, engaging in waste reduction, reducing water consumption or driving social impact," said JLL Foundation Chair, Trish Maxson. "It's a privilege to play a part in the circular process that allows us to fuel the next generation of early-stage, climate impacting startups and watch them thrive."
The 2024 JLL Foundation loan recipients join a group of 47 companies that have received
The impact of the Foundation's investment varies greatly based on the needs of each company. To highlight a few of the 2024 recipients, the Foundation's loans are helping:
- Mycocycle, a biotechnology startup using fungi to transform construction waste into low-carbon raw materials for the built environment, develop its next generation MYCOntainer™.
- Novoloop, an upcycler transforming hard-to-recycle plastics into useful materials with a small carbon footprint, pursue its global expansion strategy.
- Solarbox, an electric mobility and energy company, provide a sustainable transportation and energy solution for the African market with locally assembled utility electric vehicles.
- Cyanoskin, a carbon capture technology transforming buildings into CO2-absorbing structures using an algae-based coating, develop its technology for market.
- Courageous Land, an agroforester reforesting degraded landscapes, accelerate its technological development, fieldwork, pilot programs and preparation, for scale.
With the launch of the 2024 Annual Report, JLL has also named Erin Meezan as the Executive Director of the JLL Foundation, effective January 1, 2025. In this role, Meezan will work closely with Maxson and the rest of the JLL Foundation Board to advance the Foundation's goals, lead its strategic direction, and accelerate its impact on climate change through investments in emerging sustainable technologies.
Meezan will maintain her role as Chief Sustainability Officer (CSO) of JLL. Her expertise in sustainability strategy and experience engaging with key stakeholders uniquely position her to lead the Foundation's vision and investment decisions.
"JLL Foundation's efforts are a natural extension of JLL's sustainability commitments, as we strive to shape the future of real estate for a better world," said Meezan. "I am inspired by the creative, new approaches taken by these early-stage companies focused on climate change mitigation, and the results we will be able to achieve together."
To learn more about the JLL Foundation's impact, read the JLL Foundation 2024 Annual Report here.
About JLL Foundation
JLL Foundation is dedicated to impacting climate change now and in the future. A non-profit founded and backed by JLL, one of the largest global real estate companies with a demonstrated commitment to sustainability, JLL Foundation's goal is to be a catalyst for climate-impacting startups. For further information, visit foundation.jll.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of
Contact: Allison Heraty
Phone: +1 312 228 3128
Email: allison.heraty@jll.com
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SOURCE JLL-IR
FAQ
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