NBIM Invests $1.5bn in Brookfield's Global Transition Fund II for Energy Transition
Norges Bank Investment Management (NBIM) has made its first foray into energy transition funds, investing $1.5bn in Brookfield Asset Management's Global Transition Fund II (BGTF II). This strategic move complements NBIM's existing portfolio and aligns with its long-term strategy.
The BGTF II fund, targeting $17bn in total, will focus on clean energy and decarbonisation projects across North and South America, Europe, and Asia Pacific. NBIM's investment, which remains within its 15% cap for indirect fund commitments, signals a broadening of its exposure to global energy transition projects.
Harald von Heyden, NBIM's global head of energy and infrastructure, praised the fund's strategic fit with their existing portfolio. The fund's focus on industrial decarbonisation and business transformation projects, along with Brookfield's robust impact measurement framework, ensures that investments drive meaningful climate impact. NBIM has also secured high transparency in the agreement, emphasising openness and accountability.
With this investment, NBIM continues to diversify its portfolio while supporting the global energy transition. The fund's wide geographical reach and focus on clean energy and decarbonisation projects align with NBIM's Strategy 25, aiming to gain exposure to new markets and technologies. This collaboration with Brookfield Asset Management marks an important step in NBIM's commitment to sustainable investing.
Read also:
- Thieves Steal Unique Sculptures from Redwood National Park's Grove of Titans
- Thessaly's Climate Plan Stalls Two Years After Storm Daniel Devastation
- Republicans advocate Trump's domestic policy plans in Iowa, though some business owners remain skeptic
- Typhoon Matmo Batters Vietnam, PM Urges Vigilance as Heavy Rain Continues
