ResponsAbility Raises $106 Million for Climate-Focused Food and Agriculture Strategy
Impact asset manager ResponsAbility announced that it has raised $106 million for its climate-smart food systems investment solution, aimed at supporting the transformation of global food systems in alignment with the world’s climate targets.
Launched in February 2022, the private debt solution provides long-term expansion financing to innovative businesses across the food value chain in Asia Pacific, Latin America and Africa, targeting goals including mitigating climate change, reducing food loss and promoting climate change resilience of smallholder farmers.
Suhasini Singh, Head of Sustainable Food Debt at ResponsAbility, said:
“Business as usual is no longer possible as emissions from the global food system alone could raise global temperatures by 1.5°C by 2050 and climate change puts the global food security at risk. Therefore, it is an absolute priority to transition to low-carbon and climate-resilient food systems. We have an opportunity to showcase that there are investable projects in this grossly unfunded space, leveraging responsibility’s experience of 20 years in this sector.”
New investors in the strategy included Global Affairs Canada, the Dutch Entrepreneurial Development Bank (FMO), the Danish Investment Fund for Developing Countries (IFU), Visa Foundation, Calvert Impact Capital, Bank of America and Ceniarth. The strategy launched with KfW as an anchor investor.
Amy Brusiloff, community development executive at Bank of America, said:
“Our participation will leverage additional capital to help create a more sustainable food system, reduce greenhouse gas emissions and food waste, and increase economic opportunity for farmers and others in the food distribution sector. We are pleased to help bring climate-smart interventions and technologies to rural farmers, an important aspect in achieving environmentalEnvironmental criteria consider how a company performs as a steward of nature. justice.”
The post ResponsAbility Raises $106 Million for Climate-Focused Food and Agriculture Strategy first appeared on ESG Today.
The post ResponsAbility Raises $106 Million for Climate-Focused Food and Agriculture Strategy appeared first on ESG Today.
