ResponsAbility Asia Climate Technology Strategy Surpasses $400 Million Mark after IFC Investment
IFC Investments Support Asia's Sustainable Energy Transition
The International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets, has announced its latest investment in the Asia Climate Strategy. This strategic move aligns with IFC's objective of decarbonizing the energy and transportation sectors in the Asia region.
Launched in November 2023, the Asia Climate Strategy, managed by responsAbility Investments, aims to mobilize capital for Asia's energy transition. The strategy targets reducing CO2 emissions in Asia through investments in low-emission technologies, such as renewable energy, battery storage, e-mobility, energy efficiency, and the circular economy.
Stephanie Bilo, the Chief Client & Investment Solutions Officer at responsAbility, expressed her satisfaction with IFC's support, stating that it is a testament to the strategy's potential in contributing to Asia's sustainable growth and energy transition.
The Asia Climate Strategy initially set a target to reach $500 million. With the latest closing, which included a $50 million investment from the IFC, the strategy is on track to reach this target by the end of 2024. Beyond its $500 million target, the strategy anticipates attracting additional private capital commitments in 2025.
IFC's investment supports investments in renewable energy generation, electric mobility, and other climate technology solutions. This investment is part of IFC's commitment to supporting innovative structured debt fund solutions that mobilize private capital at scale to accelerate sustainable growth.
Asia, accounting for more than 50% of global CO2 emissions, is expected to see a significant increase in energy demand by 2050. The Asia Climate Strategy, with its focus on decarbonizing the energy and transportation sectors, is well-positioned to continue scaling and delivering substantial CO2 reduction impact in the region.
The strategy has a goal to achieve 16 million tons of CO2 emissions reductions over the lifetime of its assets. By supporting the Asia Climate Strategy, IFC considers responsAbility a long-time partner and is pleased to support the expansion of the strategy across the region.
M&G's impact investing unit, responsAbility Investments, has raised over $414 million in commitments for its Asia Climate Strategy. The IFC's investment in the Asia Climate Strategy is a significant step towards achieving the strategy's ambitious goals and contributes to the region's sustainable growth and energy transition.
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