Global impact investor LeapFrog Investments has unveiled plans to commit US$500 million to companies working to combat climate change in Asia and Africa. The finance targets the provision of green tools and technologies that would benefit up to 50 million low-income people. The plan was announced at the US-UK Climate Finance Mobilisation Forum, which aims to support a transition to green technologies in emerging and low-income markets. LeapFrog will target climate investments accelerating a green transition in the built environment, energy, mobility, and food sectors. Internal modelling by the firm suggests that by 2030 clean investment across these four sectors alone could help low-income markets to avoid more than eight gigatonnes of GHG emissions and generate 90 million new jobs. Funding for these green businesses in emerging markets has grown 28% annually over the last decade, while deal flow still represents less than 5% of the estimated US$330 billion of annual investment required. Andy Kuper, CEO and Founder at LeapFrog, highlighted the urgent need to direct private capital to green initiatives in emerging markets which houses more than 80% of the world’s population. “Climate is a global problem that capital markets need to approach through a global lens,” Kuper said, adding that according to LeapFrog’s internal modelling India, Southeast Asia and Africa, which currently represent 25% of global emissions, could account for as much as 84% of emissions by 2050 without “urgent action”.