BNP Paribas has launched the BNP Paribas Climate Impact Infrastructure Debt, an SFDR Article 9 fund which invests in energy transition projects across Europe.
The fund currently holds financing for a low-carbon energy producer, a green-sourced heating platform, and a portfolio of wind farms. It hopes to raise €500-700m (£430-602m) from investors. BNP Paribas said it will target projects that involve “renewable energy, clean mobility and the circular economy”.
See also: Schroders adds two Article 9 funds to Global Transformation range
The private assets division at BNP Paribas will manage the project, and it will be structured as a Luxembourg Reserved Alternative Investment Fund.
Karen Azoulay, head of real assets at BNPP AM Private Assets, said: “Since the establishment of our Private Assets investment division, environmental solutions have been a key strategic focus.
“The launch of Climate Impact Infrastructure Debt confirms this and marks a significant step forward in our ongoing efforts to support financing the transition to a low carbon economy and offering our clients BNP Paribas’ unique origination capacity within this asset class.”
The fund will also receive support from BNP Paribas Cardif to “finance climate change mitigation”, as well as its corporate and institutional banking branch.
Olivier Hereil, deputy CEO for asset management at BNP Paribas Cardif, said: “As a responsible investor, we are proud to collaborate on the launch of Climate Impact Infrastructure Debt.
“Echoing BNP Paribas Group’s energy transition policy, our conviction at BNP Paribas Cardif is that it is essential to manage policyholders’ savings with a long-term perspective by combining financial performance with a positive impact on society. This new investment is part of our commitment to allocate an average of EUR 1 billion per year to positive impact investments by the end of 2025.”
