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IFC investment boosts responsAbility climate fund

IFC investment boosts responsAbility climate fund

M&G’s responsAbility raises $414 million for Asia Climate Strategy. The strategy aims to reduce CO2 in Asia through investments in low-emission technologies. IFC’s $50 million investment contributes to reaching the $500 million target by year-end….

M&G’s impact investing unit, responsAbility Investments, has announced that it has secured over $414 million in commitments for its Asia Climate Strategy. This initiative is designed to contribute actively to CO2 reduction across Asia by investing in low-emission technologies. The latest funding round included a $50 million investment from the International Finance Corporation (IFC), a member of the World Bank Group.

Launched in November 2023, the strategy was established with a target of $500 million and aims to achieve a reduction of 16 million tons of CO2 emissions over the lifetime of its assets. The fund focuses on sectors such as renewable energy, battery storage and e-mobility, energy efficiency, and the circular economy. responsAbility anticipates additional private capital commitments in 2025 and expects to reach its $500 million target by the end of this year.

Stephanie Bilo, Chief Client & Investment Solutions Officer at responsAbility, stated, “With USD 414 million raised in this particular strategy, we are well positioned not only to reach our USD 500 million target but also to continue scaling the Strategy and delivering substantial CO₂ reduction impact in the region. In addition, private investments in Asia offer attractive diversification benefits for institutional investors in a volatile market environment.”

The strategy aims to mobilise capital for Asia’s energy transition, with the region responsible for over 50% of global CO2 emissions and anticipating a significant increase in energy demand by 2050. IFC, the largest global development institution focused on the private sector in emerging markets, supports this strategy, aligning with its objective of decarbonising the energy and transportation sectors in Asia through investments in renewable energy generation, electric mobility, and other climate technology solutions.

Allen Forlemu, Regional Industry Director, Financial Institutions Group, Asia Pacific at IFC, commented, “Our investment in the responsAbility Asia Climate Strategy demonstrates IFC’s commitment to supporting innovative structured debt fund solutions that mobilize private capital at scale to accelerate sustainable growth. We are pleased to support responsAbility, our long-time partner, in taking the Strategy to the next level and expanding it across the region.”

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