M&G invests $100 million in carbon reduction in Asia

M&G today announces a $100 million commitment to responsAbility’s climate investment strategy that aims to reduce carbon emissions in Asia.

responsAbility’s strategy, which will invest in climate-friendly technologies and infrastructure like renewable energy, electric mobility and energy efficiency, will target direct carbon dioxide (CO2) savings of around 16 million tons¹ over the entire lifetime of its investments – the equivalent of running 4 coal power plants continuously for a year².

Investments will focus on sectors with high potential to reduce carbon dioxide production in Asia, the largest global emitter of greenhouse gases, whose CO2 output accounts for more than 50 percent of global carbon dioxide emissions³. The strategy uses a blended finance structure that combines public funding with private capital to support high-impact climate-friendly projects. These include a business establishing infrastructure for electrical vehicle charging across India, projects providing renewable energy solutions directly to large commercial and industrial companies in Vietnam, and a global industrial waste water treatment company providing energy efficient water treatment solutions to customers across Asia.

M&G’s $100 million investment is on behalf of its M&G Life business, which serves over 4.6 million customers, through the company’s PruFund range and the £129 billion Prudential With-Profits Fund⁴, allowing retail savers access to a more diverse range of assets, including private markets. M&G acquired responsAbility, a leading impact investor with 20 years’ experience in private debt and private equity across emerging markets, in 2022, and is pleased to have this opportunity to take advantage of its specialist investment teams that allow customers exposure to opportunities in diverse sectors and locations such as this Asia climate strategy.

Ciaran Mulligan, Chief Investment Officer of Investment Management and Oversight, Prudential With-Profits Fund at M&G, said: “We are proud to invest in responsAbility's climate investment strategy for Asia. Not only do emerging markets offer the potential to provide excellent returns, this substantial investment reflects our commitment to fostering sustainable development and economic growth in regions that are most vulnerable to the impacts of climate change.

“We continue to invest in the real economy and innovative companies that are seeking to have a positive impact on the world around us, while also generating sustainable long-term financial returns for our four and a half million UK policyholders.”

Download a PDF of the release

Media enquiries

Sophie Redburn

Media Relations

+44 (0)20 8162 6300

+44 (0)739 122 7026

sophie.redburn@mandg.com

Ashleigh Daniel

Media Relations

020 8162 0217

ashleigh.daniel@mandg.com

Notes to editors

^1. Current estimate, calculated based on a USD 500 million fund size.
^2. https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
^3. Asia and the Pacific's Climate Bank | Asian Development Bank (adb.org)
^4. £129 billion in assets under management as of 31 December 2023.

OpenWhat is the With-Profits Fund?

Our With-Profits Fund the largest in the UK and serves four and a half million UK policyholders. It is a pooled investment where clients payments are added together with those of other investors. We aim to secure the highest total return for the Fund over the long term (after any tax and investment expenses) while maintaining an acceptable level of risk and protecting our plan holders. In addition, we use our bonus process to smooth some of the extreme highs and lows of short-term investment performance. The Fund invests in a globally-diversified portfolio of assets, enabling it to capture returns from a wide range of underlying investments. The Fund has heritage in supporting the real economy through infrastructure and real estate investment. The Fund also includes the company’s hugely successful PruFund fund range.

OpenWhat the Fund is invested in - the asset mix as at 31 December 2023

OpenAbout M&G plc

M&G plc is an international savings and investments business, managing money for more than 4.6 million individual customers and more than 900 institutional clients from 38 offices worldwide. As at 31 December 2023, we had £343.5 billion of assets under management and administration.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our retail and savings customers under the M&G Wealth and Prudential brands in the UK and Europe, and under the M&G Investments brand for asset management clients globally.

You are about to enter the website of M&G Investments, a direct subsidiary of M&G plc.
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M&G plcの直接子会社であるM&G Investments（M&Gインベストメント）のウェブサイトにアクセスするには、
こちらをクリックしてください。

If you are looking for the affiliates of Prudential Financial, Inc., whose principal place of business is in the United States of America, click here to proceed.

アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.（プルデンシャル・ファイナンシャルInc.）の関連会社をお探しの場合は、こちらをクリックしてください。

If you are looking for the affiliates of Prudential plc, an international group incorporated in England and Wales, click here to proceed.

イングランド及びウェールズで設立された国際グループ企業であるPrudential plc（プルデンシャル・ピーエルシー）の関連会社をお探しの場合は、こちらをクリックしてください。

M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA（健全性監督機構）及びFCA（金融行為規制機構）に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited（プルデンシャル・アシュアランス・カンパニー・リミテッド）の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.（プルデンシャル・ファイナンシャルInc.）またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc（プルデンシャル・ピーエルシー）とは一切関係がありません。