LeapFrog plans US$500 million investment in Asian, African climate transition firms

LONDON: Sustainability-focused asset manager LeapFrog Investments said it plans to invest US$500 million in companies addressing climate change in Asia and Africa, with projects it hopes will reach up to 50 million low-income people.

LeapFrog said in a statement that the money would target investments to accelerate the transition to a low-carbon economy in the built environment, energy, mobility and food sectors. Analysis by LeapFrog suggested technologies including electric scooters in India and rooftop solar in Nigeria could cost 30 to 40 per cent less than traditional, carbon-intensive alternatives.

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