M&G has announced a $100 million investment in responsAbility’s climate strategy that aims to reduce carbon emissions in Asia.

responsAbility’s strategy will invest in climate technologies and infrastructure such as renewable energy, electric mobility and energy efficiency, and will target direct carbon dioxide savings of around 16 million tons over the lifetime of its investments.

Investments will focus on sectors with the potential to reduce carbon dioxide production in Asia whose CO2 output accounts for more than 50% of global carbon dioxide emissions. The strategy uses blended finance combining public funding with private capital. Projects include a business establishing infrastructure for electrical vehicle charging across India, projects providing renewable energy solutions directly to large commercial and industrial companies in Vietnam, and a global industrial waste water treatment company providing energy efficient water treatment solutions to customers across Asia.

Ciaran Mulligan, Chief Investment Officer of Investment Management and Oversight, Prudential With-Profits Fund at M&G, said, “We are proud to invest in responsAbility’s climate investment strategy for Asia. Not only do emerging markets offer the potential to provide excellent returns, this substantial investment reflects our commitment to fostering sustainable development and economic growth in regions that are most vulnerable to the impacts of climate change.

“We continue to invest in the real economy and innovative companies that are seeking to have a positive impact on the world around us, while also generating sustainable long-term financial returns for our four and a half million UK policyholders.”

END