The pension fund serving the United States 's Episcopal Church has invested $ 500 m in off - grid solar power projects . The Church Pension Fund has provided the money to a fund held by the asset managers SIMA ( Social Investment Managers and Advisors ) . It will be able to provide microfinance loans to institutions , distribution companies and manufacturers in sub - Saharan Africa and South Asia , and is the second investment the pension fund has made in off - grid solar . The CEO of SIMA , Asad Mahmood , said the funding will help reduce carbon emissions and benefit more than a million people .
The pension fund serving the United States's Episcopal Church has invested $17m in off-grid solar power projects. The Church Pension Fund has provided the money to a fund held by the asset managers SIMA (Social Investment Managers and Advisors). It will be used to provide microfinance loans to institutions, distribution companies and manufacturers in sub-Saharan Africa and South Asia, and is the second investment the pension fund has made in off-grid solar. The CEO of SIMA, Asad Mahmood, said the funding will help reduce carbon emissions and benefit more than a million people.