Sustainable Investing Platform
Our Approach
Apollo’s Sustainable Investing Platform leverages our deep experience across asset classes to deploy capital in the key sectors driving the energy transition and decarbonization. Across asset classes, Apollo targets deploying $50 billion in clean energy and climate investments through 2027 and sees the opportunity to deploy more than $100 billion by 2030.
Over the last five years, Apollo-managed funds have deployed over $30 billion¹ into energy transition, infrastructure and sustainability-related investments, supporting companies and projects including offshore and onshore wind, solar, storage, renewable fuels, and electric vehicles, as well as a wide range of technologies to facilitate decarbonization. Apollo has also played an active role in helping finance the transformation of certain traditional energy companies.
At-A-Glance
$30B
Capital Deployed, Committed, or Arranged Toward Energy Transition and Decarbonization¹
$50B
Goal by 2027 for Clean Energy and Climate Capital
$100B
Goal by 2030 for Clean Energy and Climate Capital
Climate Equity
Infrastructure
Impact
Sustainable Finance
Origination Platforms
Climate and Transition Framework
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. Potential transactions from funds across asset classes and strategies are generally evaluated based on underlying business activity, risk factors and transaction structure. This determines if an investment’s contribution is sufficient to qualify under our Climate and Transition Framework.
Each potential investment is generally screened through Apollo’s proprietary Climate and Transition Framework to determine qualification therein. Apollo has established a Climate Task Force of senior leaders within ESG and our Sustainable Investing Platform to oversee the process. Additionally, Apollo’s Global Climate Advisory Council – comprising external experts with a breadth of experience spanning policy, technology, regulation, academia and business – provides additional advisory and technical support to the Sustainable Investing Platform.
Investments qualify as climate and transition by demonstrating either:
Majority of Revenue Alignment
With Sustainable Economy Activity (e.g., Wind Farm)
Defined Use of Proceeds
Tied to Sustainable Economy Activity (e.g., Green Bond)
Sector-Specific Certification
Recognizing Leadership in a Sustainable Economy Activity (e.g., LEED Platinum Real Estate)
Sustainable Economy Activities
Energy Transition
- Clean Energy Generation
- Sustainable Fuels
- Energy Storage
- Electric Grid Infrastructure
- Enabling Services and Technologies
Industrial Decarbonization
- Sustainable Manufacturing
- Energy Efficiency
- Emissions Management / Abatement
- Carbon Markets
- Enabling Services and Technologies
Sustainable Mobility
- Electric Vehicles
- Electrification Infrastructure
- Enabling Services and Technologies
Sustainable Resource Use
- Circular Economy
- Water and Waste Management
- Sustainable Metals and Mining
- Sustainable Agriculture
- Climate Change Adaptation
- Enabling Services and Technologies
Sustainable Real Estate
- Best In Class Real Estate Certification
- Strong Real Estate Certification
- Adequate Real Estate Certification
- Government Environmental Financing Programs
Case Studies
In 2022, funds managed by Apollo affiliates made a $175M strategic investment in Summit Ridge, a leading owner-operator of community solar assets. Community solar is a rapidly growing segment of the renewables market that allows individuals, businesses, nonprofits, and other groups to participate in the clean transition by subscribing to local solar farms at discounted rates versus those of traditional utilities. Community solar projects have increased access to clean energy savings in urban and low-to moderate-income markets. By the end of 2023, Summit Ridge expects to have more than 500 MW of solar and 100 MWh of battery storage projects online, providing energy savings to approximately 175,000 residential and commercial customers. With the investment from Apollo-managed funds, Summit Ridge will look to further expand its geographic footprint and continue to scale its platform.
Energos is a joint venture between Apollo and New Fortress Energy that owns and operates 11 liquefied natural gas (“LNG”) vessels that provide critical infrastructure for the delivery, storage, and regasification of LNG in isolated markets. The implied enterprise valuation of the joint venture is approximately $2B. The platform is underpinned by long-term contracts and accelerates decarbonization as its customers seek to displace higher carbon intensity fuels used in power generation — such as coal or diesel — with lower cost, lower emission energy.
In 2022, Apollo-managed funds purchased approximately $200M of senior secured notes of a wholly owned subsidiary of WEC Energy Group. This subsidiary owns the Tatanka Ridge and Jayhawk wind farms that together provide 340 megawatts of renewable power generation and are fully contracted under long-term PPAs with high-quality offtakers. This investment-grade private capital solution illustrates the versatility of our Sustainable Investing Platform and helps support significant renewable wind energy generation.
“Our Sustainable Investing Platform embodies our commitment to driving a more sustainable future. This platform is seamlessly integrated into the very essence of Apollo, ensuring that our business success is aligned with generating meaningful and lasting impact. Through this innovative approach, we strive to deliver lasting sustainable value for our clients and society at large.”
Olivia Wassenaar
Head of Sustainable Investing
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(1) As of December 31, 2023. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.
