Bahrain’s Investcorp has launched a new climate solutions investment platform to address decarbonisation and climate change.
The company said it was launching the platform with Bahrain sovereign wealth fund Mumtalakat as well as other Bahrain-based institutions.
Executive Chairman Mohammed Alardhi said addressing climate change is a global challenge in which the private sector has a clear role to play in funding decarbonisation.
The newly launched platform will identify opportunities for private capital investment in companies working on decarbonisation which address the impacts of climate change and accelerate the transition to a zero-carbon economy, Investcorp said.
It will also focus on the deployment and rapid scaling of climate solutions across carbon management, buildings, transportation, and food and agriculture.
“Investcorp believes that an additional key aspect of the underlying investment strategy stems from the recognition that mobilizing the commercial scale-up of such solutions will enable broad-based availability of much needed decarbonization products and services at attractive price points for the Global South,” a statement said.
“By doing so, the platform has the potential to help the region better manage and mitigate the challenges of climate change which are impacting the area disproportionately, while accelerating overall global emissions reductions.”
James Socas, formerly managing director of Blackstone, who joined Investcorp earlier this year as managing director, will lead the business as head of climate solutions.
“Climate is the single biggest challenge and consequently one of the top long-term investment themes today.
Successfully addressing climate change and the energy transition will require the capital, innovation and commitment of the private sector,” he said
Investcorp said the decarbonisation of all sectors of the global economy will require an estimated $9.2 trillion of annual investment up to 2050.
(Writing by Imogen Lillywhite; editing by Seban Scaria )