ADB Commits $50 Million to Actis Asia Climate Transition Fund to Boost Clean Energy and Address Climate Challenges
The Asian Development Bank (ADB) has committed $50 million to the Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor. This investment aims to accelerate the clean energy transition and tackle development challenges arising from climate change impacts in Asia and the Pacific.
The fund will focus on investing in companies within the renewable energy, energy solutions, and sustainable transportation sectors. Each investment will typically range from $50 million to $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.”
The investee companies will be supported in creating net-zero plans that align with the Paris Agreement and committing to credible pathways to reduce emissions. Moreover, ADB’s investment includes the adoption of a gender lens investing approach to enhance gender-inclusive practices within these companies.
ADB remains committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while continuing its efforts to eradicate extreme poverty. Established in 1966, ADB is owned by 68 members, with 49 from the region.
