responsAbility addresses access to clean power globally through innovative financing

ResponsAbility’s Access to Clean Power Fund stands at the forefront of a critical movement aimed at addressing the global lack of access to clean energy, particularly in Sub-Saharan Africa and South and Southeast Asia. Headquartered in Zurich, this private debt fund strategically targets companies that are dedicated to providing sustainable energy solutions to households without electricity and businesses seeking cleaner, more affordable, and reliable power sources.

The fund's focus on financing the dynamic off-grid energy sector is particularly noteworthy. By harnessing the solar potential available in emerging economies, it aims not only to provide immediate solutions but also to foster long-term sustainability. Over its lifetime, portfolio companies supported by this fund are expected to deliver clean power to over 150 million people, contribute an impressive 2,000 MW of clean energy generation capacity, and reduce CO2 emissions by approximately 6 million tons.

Calvert Impact Partners recognizes the significance of this initiative. Their enthusiasm for collaborating with responsAbility reflects a shared vision: strengthening financial intermediaries that efficiently channel capital into clean energy projects at scale. The off-grid sector is indeed reaching a tipping point; therefore, partnering with a robust fund manager like responsAbility is essential for maximizing impact.

Impact Story: d.light

A prime example of this impact is d.light. As a leading producer of solar-powered products aimed at low-income families in emerging markets, d.light embodies the mission behind responsAbility’s funding efforts. With a vision to transform the lives of one billion individuals through sustainable products by 2030, d.light has already made remarkable progress; they received a $14 million loan from responsAbility which enabled them to establish Brighter Life Kenya 2 (BLK2). This financing allows d.light to expand its operations across Africa using innovative ‘Pay As You Go’ technologies.

To date, d.light has sold over 25 million solar products—including lanterns, home systems, TVs, radios, and smartphones—impacting over 125 million lives. This story not only illustrates how targeted financial support can drive significant change but also emphasizes our collective responsibility toward ensuring access to clean power for all. Through initiatives like these, we can pave the way for a sustainable future where everyone has access to reliable energy sources.

The Praxis commitment

Praxis Mutual Funds supports organizations through investments in Calvert Impact, an impact-investing institution that helps people around the world through community development financing. It’s part of the Praxis commitment to place approximately 1% of each of its funds to benefit neighborhoods and individuals through community development investments.