LeapFrog to commit over $500m to climate investments
LeapFrog Investments plans to commit $500 million to companies combating climate change in Africa and Asia.
“Investing in climate solutions across emerging markets is not just the right thing to do, but also a highly compelling commercial opportunity,” said Andy Kuper, LeapFrog’s CEO and founder. “In the next decade we want to act as a catalyst and enabler for billions of low-income consumers finding clean pathways into prosperity by accessing – via LeapFrog companies – sustainable, efficient products that both improve their quality of life and protect their environment.”
“Climate is a global problem that capital markets need to approach through a global lens, and we urgently need to invest more in these countries if we have any hope of hitting the emissions reduction targets we have set for our planet,” Kuper added. “Our internal modelling paints a stark picture. India, Southeast Asia and Africa, which today represent 25% of global emissions, could account for as much as 84% of emissions by 2050 without urgent action, undoing any climate gains made in wealthy nations.”
LeapFrog recently led a $70 million investment round into Sun King, the world’s largest off-grid solar energy company, which was started in Kenya and to date has provided 102 million people with clean energy access.
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