As stated by the AIIB, the Project Objective is to promote the reduction of greenhouse-gas emissions as a path to net zero by investing in renewable energy infrastructure, energy solutions and sustainable transportation in Emerging Asia.
The Fund targets a fund size of USD1.0 billion and final close by Q1 2024. The Fund will be managed by Actis GP LLP (Actis). Leveraging Actis’ sectoral expertise in energy and sustainable infrastructure, the Fund mainly targets making investments that align with climate transition themes in the following sub-sectors including (i) renewable energy infrastructure, (ii) energy solutions and (iii) sustainable transportation, via controlling or significant minority stakes.
As stated by the AIIB, the Project is proposing an equity investment of USD75 million into the Actis Asia Climate Transition Fund (AACT, the Fund) plus a co-investment sleeve up to USD25 million alongside the Fund.
As stated by Bloomberg, Actis GP LLP [the Fund manager] operates as a private equity firm. The Company invests in in the emerging markets specializing in consumer, financial services, healthcare, industrial, energy, and real estate sectors. Actis GP serves clients worldwide.
AIIB Team Leaders:
Jingyi Zhang - Senior Investment Officer
Julie Zhu - Investment Associate
Financial Intermediary - Actis GP LLP:
Asanka Rodrigo - Partner
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html
ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html