ADB signs $50 million commitment to accelerate energy transition in Asia and the Pacific
Wednesday, 19/06/2024 15:48 (GMT+7)
(CPV) - The Asian Development Bank (ADB) signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific.
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| Source: Internet |
The fund will invest in renewable energy, energy solutions, and sustainable transportation companies. Investment size will typically range from $50 million–$200 million per company.
"Several Asian economies are vulnerable to rising sea levels, extreme weather events, and biodiversity losses,” said ADB Director General for Private Sector Operations Suzanne Gaboury. "ADB’s investment in the fund will help address these vulnerabilities by advancing efforts to build climate-resilient infrastructure and adopt climate-smart technologies in Asia and the Pacific.”
Investee companies will be helped in creating net-zero plans that align with the Paris Agreement and in committing to a credible pathway to reduce emissions. Additionally, this investment by ADB includes the adoption of a gender lens investing approach to enhance the gender-inclusive practices of investee companies./.
Khac Kien