Apollo, a manager of alternative assets, plans to deploy $50 billion for energy transition and conservation in the next five years.
Apollo Global Management, a manager of alternative assets, recently launched a sustainable investing platform. They hope to have $50 billion for decarbonization and energy conservation opportunities in the next five years.
According to Reuters, Apollo wants to help companies that focus on clean energy and stop the use of fossil fuels.
So far, they have deployed $19 billion into a clean energy transition, renewable transitions, and electric vehicles. They hope to deploy more than $100 billion by 2030.
Reports by the International Energy Agency say that investments in clean energy will need to triple by 2030 and be around $4 trillion for net-zero carbon emissions to be achieved by 2050.
In order to avoid the worst consequences of climate change, Apollo also said they are making sure their own operations are sustainable. They will reduce the median carbon intensity by 15% for the companies controlled by private equity funds.
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