Tashkent, Uzbekistan (UzDaily.com) — On 26 September, as part of the ninth annual meeting of the Asian Infrastructure Investment Bank (AIIB), a session titled "Countdown to Net Zero: Capital Investment for Climate Transition in Asia" took place, focusing on key investment strategies to support climate transitions in developing countries in the region.

Speakers included Gregory Liu, CEO of the AIIB’s Financial Institutions and Funds Department; Neda Vakilian, Partner and Head of Investor Solutions at Actis; and Jinyi Zhang, Senior Investment Officer in the AIIB’s Financial Institutions and Funds Department.

During the session, it was noted that in January 2024, the AIIB’s Board of Directors approved a US$75 million investment in the Actis Asia Climate Transition Fund (AACT), as well as the possibility of co-investments up to US$25 million managed by Actis GP LLP. This partnership represents the AIIB’s first fund dedicated to climate transition in developing countries in Asia, highlighting the bank’s commitment to sustainable development and climate action in the region.

The AACT fund aligns closely with the AIIB’s corporate strategy and priorities, which include the development of green infrastructure, mobilization of private capital, and integration of technology into infrastructure projects. AIIB’s investments are supported by Actis’s successful outcomes in the energy sector and sustainable infrastructure.

The fund focuses on projects related to renewable energy, energy solutions, and sustainable transport, through controlling or significant minority stakes. It is also the AIIB’s first project aimed at addressing gender disparities in the energy sector by creating opportunities to integrate gender aspects into future projects.

Gregory Liu, CEO of the AIIB’s Financial Institutions and Funds Department, stated: "From July 1, 2023, all projects approved by the AIIB must align with the Paris Agreement. In 2020, the bank implemented a strategy to ensure that by 2025, 50% of projects will be related to climate financing."

In addition to the discussion, Neda Vakilian remarked, "Our company aims to achieve net-zero emissions by 2050 for the entire portfolio, with interim targets for 2030, including measuring and managing emissions across Scope 1, 2, and 3 in all our companies."

At the end of the session, participants discussed the AIIB’s and AACT’s commitment to investments in climate transition, emphasizing the importance of these measures to achieve net-zero targets in developing countries in Asia. Actis shared its approach to establishing the AACT fund and discussed the value that the AIIB brings and the prospects for future climate investments.