Energy Efficiency, GHG Emissions, Finance - July 10, 2023
Apollo Allocates $6B Across Clean Energy Investments
Apollo, an asset management business, announced milestones in its sustainability journey, including allocating $6B in clean energy and climate investments across asset classes, which signifies significant progress toward its $50B target.
In 2022, Apollo unveiled a Sustainable Investing Platform focused on financing and investing in the energy transition and decarbonization. It is intent on driving real, positive change while striving to offer investors in these assets the returns they have come to expect.
Apollo defines Climate and Transition investments as those which provide capital to entities contributing to the energy transition, industrial decarbonization, sustainable mobility, sustainable resource use, or sustainable real estate. It evaluates potential transactions from funds across asset classes and strategies based on business activity, risk factors, and transaction structure to determine if an investment’s contribution is sufficient to qualify as Climate & Transition.
The company formed a Climate Task Force and the Sustainable Investing Platform to manage the process. Additionally, Apollo‘s Global Climate Advisory Council provides additional advisory support to the Sustainable Investing Platform.
In 2022, Apollo continued with facility enhancements. Specifically, it retrofitted several office locations, thereby expanding the number of green-certified buildings. Apollo currently owns or leases space in 10 green-certified buildings, such as LEED®, ENERGY STAR, BREEAM®, or BEAM Plus.
The company also achieved carbon-neutral operations by procuring high-quality carbon removal projects and Renewable Energy Credits (RECs).
For the first time, Apollo’s reporting is informed by recommendations of the Sustainable Accounting Standards Board. The report is also informed by recognized reporting frameworks including the Global Reporting Index, the UN Sustainable Development Goals, and the Task Force on Climate Related Financial Disclosures.
“When I look back at the past two years, I’m really proud of what we have accomplished,” said Dave Stangis, Apollo’s Chief Sustainability Officer, in a statement. “It has been a phase of foundation building, during which we took an industry-leading, integrated sustainability strategy and grew its reach and capabilities.”