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 one 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.