Banner Image

Climate change is the biggest global development challenge we will face in the coming decades. We invest to reduce greenhouse gas emissions, transform economies to be cleaner and greener, protect the environment and increase climate resilience.

We achieve positive impact across three areas

Accelerating green growth

Climate change is having a devastating impact on emerging economies. Over the last few years, including in 2024, we have stepped up our climate finance leadership to respond to this challenge. We’re proud to be one of the UK Government’s largest providers of climate finance to emerging and developing economies.

Over the year, we have made new investments in the full spectrum of renewable energy – from utility-scale renewable energy to solar mini-grids. Our investments also extend far beyond infrastructure, supporting the green transformation of economies with innovations such as EVs, clean cooking, energy efficiency, the circular economy, and new technology to help farmers adapt to a changing climate. We also support companies across our portfolio to become climate-smart and address challenges presented by climate change, helping to boost green growth and resilience (see case study).

 
Increasing investment in climate finance
In 2024, we committed £708 million to climate finance, which represents 41 per cent of our total commitments (see chart). This remains ahead of our target to make 30 per cent of our investments in climate finance over the current five-year strategy period. In turn, our climate finance commitments mobilised $466 million in private investment.
At the same time, climate-finance-qualifying assets now make up an increasing proportion of our overall portfolio – now 26.5 per cent of our portfolio, compared with just 15.4 per cent in 2020 (see chart).
These metrics are just one aspect of our climate-related reporting. Our report against the UK Government’s Climate-related Financial Disclosure regulations sets out our strategy, governance, risk management and metrics and targets to assess and manage climate-related risks and opportunities for our portfolio and operations. You can find this in our Annual Report and Accounts.
£708m

committed to climate finance in 2024, which represents

41%

of our total commitments

Annual climate finance commitments
Chart
Climate finance mobilised
Chart
Climate finance assets in our portfolio (£m)
Chart
Climate finance assets in our portfolio (% by value)
Chart

Explore our impact stories

Boosting access to clean power

Boosting access to clean power

Our investment is expanding Tanzania’s renewable energy supply – connecting thousands of homes and businesses to the grid for the first time.

7.6MW

renewable energy will be added to the national grid in Tanzania

Investment name: Rift Valley Energy
Location: Tanzania

Investment type: Growth Portfolio

Solar solutions for Nigeria’s homes and businesses

Solar solutions for Nigeria’s homes and businesses

Our investment is reducing Nigeria’s reliance on diesel for electricity, by expanding access to solar energy for SMEs and households.

267,000

tonnes of CO₂ emissions saved by 2029

Investment name: Arnergy
Location: Nigeria

Investment type: Catalyst Portfolio

Unlocking sustainable logistics

Unlocking sustainable logistics

With our support, Loadshare is reshaping India’s logistics sector, by cutting emissions and creating green jobs.

4,880

tonnes of CO₂-equivalent emissions will be saved by Loadshare’s electric vehicle fleet every year

Investment name: Loadshare
Location: India

Investment type: Kinetic Portfolio

Boosting farmer resilience

Boosting farmer resilience

We are backing SunCulture’s solar powered irrigation systems with a second investment

87%

of smallholders say they have increased their incomes because of SunCulture’s technology

Investment name: SunCulture
Location: Kenya

Investment type: Kinetic Portfolio

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Analytics Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Enabling these cookies helps us to improve our website.