- Apollo Global Management has launched a new investing platform to enable energy transition and decarbonization of the industry
- It envisions $50 billion investment in clean energy and climate capital by 2025
- There stands an opportunity to invest more than $100 billion by 2030, according to Apollo
US based global alternative investment management firm Apollo Global Management has launched a multi-asset sustainable investing platform to finance and invest in energy transition and decarbonization of the industry, aiming to invest $50 billion in clean energy and climate capital by 2025.
Overall, it sees the opportunity to deploy more than $100 billion by 2030. Compare this with more than $19 billion it has deployed for energy transition and sustainability-related investments over the last 5 years including for offshore and onshore wind, solar, storage, renewable fuels, electric vehicles as well as a wide range of technologies to facilitate decarbonization.
The new platform will be led by Head of Sustainable Investing Olivia Wassenaar, while Dave Stangis has been announced as the firm’s chief sustainability officer, among other appointments.
“We see significant opportunities across the sustainability spectrum to provide attractive, diversified returns to our investors while driving a once-in-a-generation need to create real, positive change across sectors,” said Wassenaar.
The International Energy Agency (IEA) pegs $1 trillion investment in clean energy for emerging and developing economies by 2030, to enable the world to achieve net zero emissions by 2050 (see IEA Says Clean Energy In Developing Countries A Top Priority).