In brief: UK pension commits $544m to climate funds

Border To Coast Pensions Partnership is becoming one of the UK’s biggest climate investors: the public pension pool has committed $543.6 million to climate funds in the six months to March 2023.

Border To Coast created a £1.35 billion ($1.64 billion; €1.55 billion), three-year bucket for private markets climate-related opportunities in 2022, called its Climate Opportunities proposition. Earlier this month, the pension pool announced five fund investments from this bucket:

• $120 million to Ara Fund III
• $100 million to Macquarie Green Infrastructure Group’s Energy Transition Solutions
• €100 million to Hy24 Clean H2 Infra Fund
• £90 million to Quinbrook Renewables Impact Fund
• £90 million to Nextpower UK ESG Fund

Previous investments from Border To Coast’s climate bucket include:

• $150 million to Brookfield Global Transition Fund I
• $144 million to Blackstone Green Private Credit Fund
• $110 million to General Atlantic’s BeyondNetZero

“Climate Opportunities is an innovative investment strategy which is delivering significant investment to enable the energy transition to net zero, supporting both our Partner Funds’ investment strategies and our own commitment to net zero,” Ian Sandiford, head of alternative investments at Border To Coast, said in the pension’s announcement.