responsAbility, a leading Swiss impact asset manager, has announced the first close of its new Access to Clean Power Fund with commitments that could go up to US$200 million. The private debt fund addresses the lack of access to clean power globally with a strong focus on sub-Saharan Africa and South and Southeast Asia. It is set up as a blended finance structure offering different risk tranches, and has received commitments from a number of prominent public and private investors. The fund is an initiative launched in partnership with Bank of America and other financial institutions and investors.
“This investment addresses the critical need for access to affordable, clean energy in emerging markets,” said Dan Letendre, managing director in Bank of America’s Environmental, Social and Governance division. “The investment is part of our Blended Finance Catalyst Pool and our broader sustainable finance initiatives, which are helping to advance the United Nations Sustainable Development Goals.”
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
Kelly Sapp, Bank of America