TCFD Report
Click on “Download Publication” for Actis’ 2025 TCFD Report.
Task Force on Climate-related Financial Disclosures: Foreword
Electricity demand is rising at a rate not seen in decades, propelled by artificial intelligence, industrial electrification, and population growth. At the same time, a series of geopolitical disruptions have exposed how fragile the fossil fuel supply chain can be when tested. Together, this is reshaping how energy systems are built and where capital is deployed.
In our opinion, the most substantial and critical opportunities are in growth market countries where dependence on imported fuel has become a macroeconomic liability. In these markets, we see a combination of rapidly growing demand, abundant renewable resources, and a stark infrastructure investment gap. With geopolitical uncertainty, countries and markets are rethinking their reliance on global systems – leading to an emphasis on domestic infrastructure around national security, energy and data security, and regional rather than global resilience. We are seeing a pronounced need for domestic, renewable energy as growth markets prioritise self-sufficiency.
Sustainability is key to how we seek to mitigate risk, create value and future-proof our assets – experience shows us that investing in the right way provides access to lower cost of capital, reduces risk and enhances value at exit. We invest in sustainable sectors and seek to create businesses that are sustainability leaders because we believe this to be a great way to create value while protecting the downside of our investments – helping to secure stronger returns for our LPs while doing good for the communities and countries in which we operate.
We believe that climate change is a global challenge that demands concerted action. While we at Actis recognise the scale of this challenge, we also see the opportunities it presents and aim to be part of the solution. As a leading growth markets investor in sustainable infrastructure, we are committed to our role as responsible stewards of capital. As a result, climate change considerations are embedded in every investment decision we make, as a core principle of our philosophy – a commitment that has been integral to our approach for many years. A key aspect of this work is sharing knowledge and insights across our portfolio to maximise efficiency, draw additional benefits from our scale, and increase our collective impact.
I take pride in what we have achieved so far. Since inception, Actis has invested in businesses that have built or operated 27GW of renewable energy. In 2025 alone, Actis investments helped avoid over 1.62 million tCO₂e. Importantly, our efforts go beyond large-scale renewable energy generation – Actis also invests in critical enabling infrastructure, including electricity transmission grids and distribution networks.
Understanding and acting on physical climate risk is also key as it affects performance across all sectors today. It influences valuations, insurance costs, credit assessments and the assumptions that underpin long-term cash flow projections. It is a particular priority in infrastructure, where assets are often remote and the services they provide essential. And it is still more important in emerging markets, where infrastructure is more exposed to extreme weather but is typically less equipped to adapt than that in developed markets. This is why we assess the physical climate risks at individual asset level, through a holistic approach, which results in more resilient assets and creates value that will increasingly underpin the exit case – our assets’ future buyers will undoubtedly apply similar scrutiny in this area.
This report provides an update on the progress we have made towards decarbonising and securing the growth markets’ energy supply and enhancing our portfolio’s resilience to extreme weather.
Torbjorn Caesar
Chairman and Senior Partner
Actis
Sustainability is key to how we seek to mitigate risk, create value and future-proof our assets – experience shows us that investing in the right way provides access to lower cost of capital, reduces risk and enhances value at exit.