British International Investment launches $1.48 billion Asia climate investment push

Here are some details:

-- The five-year program, called British Climate Partners, ⁠will invest in developing Asian economies alongside private investors in equity platforms and mezzanine financing to scale renewable and low-carbon projects, BII said.

-- Asia accounted for about three-quarters of global coal demand in 2024, underscoring the challenge in cutting emissions in fast-growing economies, BII ‌said, ⁠citing industry data.

-- The initiative will focus on India and other countries including Indonesia, Vietnam, the Philippines, Thailand and Malaysia, where demand for power ⁠is rising and investment needs are large.

-- "Asia's energy transition will depend on mobilizing private capital at ⁠scale and British Climate Partners is designed to do exactly that," said Srini ⁠Nagarajan, managing director and head of Asia at BII.

($1 = 0.7416 pounds)