British International Investment (BII) announced a new five-year strategy to mobilize about $20 billion in new capital into developing countries to help with energy supply and boost climate initiatives. Of the £15 billion, or $20 billion, of capital, BII will contribute up to $10.8 billion (£8 billion), with the balance coming from private institutions. For every £1 of public money, BII expects to crowd-in around another £1 of private capital, which would be a rise of up to 40% compared to its previous five-year strategy. BII also announced that it would consolidate its role as a key climate investor with the launch of British Climate Partners (BCP). The $1.48 billion (£1.1 billion) initiative will focus on investments that will support emissions reduction in Asian countries that have coal-based energy networks. These countries include India as well as the Philippines, Indonesia, Vietnam, and other Southeast Asian economies. India still needs at least $160 billion a year in investment to meet its net zero commitments, while Southeast Asia's economies need a further $210 billion annually until 2030, according to BII. "Asia's energy transition will depend on mobilising private capital at scale and British Climate Partners is designed to do exactly that," said Srini Nagarajan, MD and Head of Asia, BII. "Through this new initiative, we'll use our experience, capital and partnerships to build platforms, de-risk projects and crowd in long-term investment into commercially viable climate opportunities across the region," he added. BII will work alongside life insurers, pension funds, and other asset managers to make investments that deliver positive economic, environmental, and social outcomes as well as risk-adjusted financial returns.