M&G’s impact investing unit responsAbility Investments announced that it has raised $460 million in commitments at the fifth closing of its Asia Climate Strategy, aimed at actively contributing to CO2 reduction in Asia through targeted investments in low-emission technologies.
Launched in November 2023, the strategy was established with a target to reach $500 million, and a goal to achieve 16 million tons of CO2 emissions reductions over lifetime of its assets. Key areas of investment for the fund include sectors such as renewable energy, battery storage and e-mobility, energy efficiency, and the circular economy.
The closing brought 2 new investors to the strategy, including Netherlands-based Anthos Fund & Asset Management and U.S.-based Calvert Impact Capital, in addition to an increased commitment from World Bank Group member the International Finance Corporation (IFC), which had already announced a $50 million investment last year.
Catherine Godschalk, Chief Investment Officer at Calvert Impact, said:
“Addressing climate challenges requires private and public capital work together on targeted, ambitious solutions and that’s exactly what this fund does. We’re excited to continue to support the Asia Climate Strategy in financing a broad range of climate solutions with potential for meaningful scale and deep impact in such a critical region.”
According to responsAbility, the strategy aims to help mobilize capital for Asia’s energy transition, with the region accounting for more than 50% of global CO2 emissions, while also anticipating a significant increase in energy demand by 2050. The firm said that the strategy has been designed to address these challenges through targeted investments in low-carbon technologies and infrastructure.
Stephanie Bilo, Chief Client and Investment Solutions Officer at responsAbility, said:
“With this closing we are seeing sustained demand from commercial and values-driven investors who seek attractive risk-adjusted returns together with measurable climate outcomes. These renewed commitments from long-standing partners reflect continued confidence in our strategy and its ability to deliver both impact and performance.”
