The U.S. Treasury has partnered with Canadian pension fund CDPQ, asset managers Natixis Investment Managers and Ninety One, the Rockefeller Foundation and others to accelerate pension fund and other institutional investment in emerging and developing countries over the next three years.

In particular, the new partnership will focus on investing in energy transition and sustainable infrastructure, and will be led by the Investor Leadership Network, according to a statement from U.S. Treasury Secretary Janet Yellen.

“Today, we are proud to announce that the Investor Leadership Network, which includes companies with a total of over $10 trillion in assets under management, has launched a new commitment to accelerate pension fund and institutional investments in emerging and developing economies over the next three years,” Ms. Yellen said in remarks at the U.S. Embassy in Paris.

The Investor Leadership Network is working with its members such as the C$400 billion ($303 billion) Caisse de depot et placement du Quebec, Montreal; Natixis, with $1.2 trillion in assets under management; Ninety One, with $159 billion in AUM; the $6.4 billion Rockefeller Foundation, New York; and the Sustainable Markets Initiative.

The group launched the new commitment alongside the U.S. Treasury at the Summit for a New Global Financing Pact in Paris on June 22-23.

The ILN’s membership also includes the C$125 billion Ontario Municipal Employees’ Retirement System, Toronto and money managers with aggregate assets of $10 trillion.

CDPQ is currently the only pension fund participating in the Treasury partnership, while others “remain interested but are ‘listening’ only,” ILN spokeswoman Jackie Clark said.

The ILN focuses on private capital mobilization for sustainable development; diversity, equity and inclusion; and climate change.

Hendrik du Toit, founder and CEO of the London and Cape Town, South Africa-based Ninety One, said in a statement: “To achieve real-world decarbonization, investors must finance new infrastructure and industries that will help the transition. This includes investing at scale in green technology, but also providing capital for credible transition pathways for today’s high emitters — especially in emerging markets.” He added, “climate change does not respect national borders. The developed world cannot decarbonize in isolation.”

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