responsAbility Closes USD 460 Million for Asia Climate Tech Investment Strategy

M&G's impact investing unit responsAbility Investments has raised USD 460 million at the fifth closing of its Asia Climate Strategy, a fund targeting CO2 emissions reductions through investments in renewable energy, battery storage, e-mobility, energy efficiency, and the circular economy across Asia. The strategy has a total target of USD 500 million and a goal to achieve 16 million tonnes of CO2 reductions over its asset lifetime.

Launched in November 2023, the Asia Climate Strategy brought two new investors into the fund at the fifth closing: Netherlands-based Anthos Fund and Asset Management, and US-based Calvert Impact Capital. The World Bank Group's International Finance Corporation, which had previously committed USD 50 million, also increased its commitment at this closing. The fund focuses on low-emission technologies and infrastructure across a region responsible for more than 50% of global CO2 emissions.

Asia is expected to see a significant increase in energy demand by 2050, making it a critical theatre for climate investment. The fund's focus on a broad range of climate solutions — from clean energy and battery storage to circular economy models — reflects the complexity of Asia's energy transition, where countries at different stages of development require varied approaches. India and other South and Southeast Asian markets are major targets, given their combination of high emissions intensity and rapid economic growth.

Calvert Impact's chief investment officer said the fund demonstrates how private and public capital can work together on targeted climate solutions in a critical region. responsAbility's chief client officer noted that the fund has attracted sustained demand from both commercial investors seeking risk-adjusted returns and values-driven investors focused on measurable climate outcomes. The fifth close confirms ongoing investor confidence in the strategy's dual mandate of financial performance and climate impact.

Key figure — USD 460 million