US-based asset manager Invesco has launched a fund which will support climate change adaption efforts in emerging markets and developing economies.
The fund aims to mobilise private and public capital to accelerate the scale-up of infrastructure and adaption solutions.
It will invest in public and private placement bonds in developing countries with proceeds tilted towards climate adaptation.
Invesco is seeking to raise $500m for the fund, which has launched an IPO that will now run for nine months.
The fund’s term is 12 years, comprising a seven-year investment period during which it will target multiple climate adaptation sectors – including food security and agriculture, coastal zones, urban infrastructure, water collection and management, energy and nature-based solutions – and a five-year run-off period.
