CDC Group has allocated 30 percent of its investments over the next five years to climate finance, UK prime minister Boris Johnson announced last week.
This marks a significant increase since 2016, when the UK’s development finance institution had allocated 5 percent of new investments to climate finance. Earlier this year, CDC invested in Berkeley Energy’s second Africa renewable energy fund, which has raised €130 million.
The institution invested $1.57 billion in 2020, 17 percent of which was in externally managed private equity funds and 30 percent of which was in direct equity. Its portfolio was valued at $7.1 billion that year.
In July, the UK government committed to invest £11.6 billion over the next five years to support the energy transition via the international climate finance fund.