Eversource Capital eyes cutting over 30 mn tonnes of GHG emissions through portfolio firms by 2030
Eversource Capital, a climate impact investor, is aiming to cut over 30 million tonnes of green house gas (GHG) emissions by 2030 through its portfolio companies, it said in its fourth annual sustainability report – Innovation. Inclusion. Impact.
The report provides a comprehensive overview of its commitment to driving sustainable growth through innovative climate investments.
As of March 2024, its portfolio has collectively generated 8.7 million megawatt hours of renewable energy, facilitated the mobility of millions through electric vehicles, 8.75 million tons CO2e of emissions abated benefitting 106 million lives, per the annual report.
Dhanpal Jhaveri, co-founder & CEO, Eversource Capital, in a statement said, “As we confront the urgent challenges posed by climate change, the need for innovative solutions has never been more critical.”
“We have built a robust climate investing ecosystem that not only addresses these challenges, but also drives sustainable impact and inclusion. Our latest sustainability report highlights our progress and the tangible outcomes of our investments,” he said. “We have successfully catalysed $2.5 billion in global capital towards India’s climate initiatives, targeting to avoid over 30 million tonnes of GHG emissions by 2030. This is a testament to our commitment to creating a sustainable and resilient future for all,” he added.
Eversource received catalytic concessional capital from the U.S. Department of State and USAID through the Blended Finance for Energy Transition (BFET) program, and from the Investment Fund for Developing Countries (IFU) under the Danish Development Finance Institution (DFI). Announced at COP28 by John Kerry, U.S. Special Presidential Envoy for Climate, it provides an impetus to mobilise private capital at scale and deploy it in climate businesses across developing Asian economies. Eversource said through its portfolio companies, it is lending strong support to India in its transition to a net-zero economy.