Bank of Tokyo-Mitsubishi commits $30m to Asia climate fund
Bank of Tokyo-Mitsubishi UFJ (BTMU) has committed $30 million to Asia Climate Partners, a fund set up by the Asian Development Bank (ADB), Japan’s Orix Corp, and Robeco Institutional Asset Management.
The vehicle was launched in August 2014, with the founding partners agreeing to invest $400 million between them. It targets green energy-related and low carbon businesses, including renewable energy, clean energy, energy conservation, water resources, agriculture and forestry in India, China and Southeast Asia.
BTMU said in a statement that the fund would enable it to expand business opportunities and support companies working to resolve issues such as air and water pollution, electricity shortages, and inefficient utilization of energy and natural resources.
In addition to supporting a string of Japanese GPs, BTMU has participated as an LP in Tsing Capital's China Environment Fund III, two infrastructure funds managed by CapAsia, and First Eastern Investment Group's Japan China Fund, according to AVCJ Research.
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