The Asian Development Bank (ADB) has signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific.

ADB said in a statement on Tuesday that the fund will invest in renewable energy, energy solutions, and sustainable transportation companies.

Investment size will typically range from $50 million–$200 million per company.

“Several Asian economies are vulnerable to rising sea levels, extreme weather events, and biodiversity losses,

“ADB’s investment in the fund will help address these vulnerabilities by advancing efforts to build climate-resilient infrastructure and adopt climate-smart technologies in Asia and the Pacific,” said ADB Director General for Private Sector Operations Suzanne Gaboury.

According to the statement, investee companies will be helped in creating net-zero plans that align with the Paris Agreement and in committing to a credible pathway to reduce emissions.

Additionally, this investment by ADB includes the adoption of a gender lens investing approach to enhance the gender-inclusive practices of investee companies.

ADB said it is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

Established in 1966, the organization is owned by 68 members— 49 from the region.

Canada, ADB launch $255M new fund to support private sector climate action and nature-based solutions in Asia Pacific