British International Investment Commits Over £700 Million into Climate Solutions in 2024
- Hanaa Siddiqi
- 6 hours ago
- 2 min read

British International Investment, the UK’s development finance institution and impact investor, has announced a £1.75 billion commitment for 2024. The goal? To drive job creation, reduce reliance on aid, and tackle the climate crisis head-on.
This marks a 33 per cent increase compared to last year, despite a challenging investment landscape shaped by global economic turbulence.
According to BII’s Annual Review, also released today, the institution’s total net assets rose to £9.9 billion, up from £8.5 billion in 2023. Post-tax profits also made a notable turnaround, climbing to £213.3 million after recording a £44 million loss the previous year.
A significant portion of these investments targeted Africa, with more than £1.09 billion—or 62 per cent of total commitments—channelled into African businesses. Companies in Asia received £626 million, while ventures operating across both continents secured £29 million.
Climate finance featured prominently in BII’s 2024 activity. The institution invested £708 million, roughly $903 million, in climate-focused initiatives, accounting for 41 per cent of its total commitments for the year. That’s a massive leap from just £80 million four years ago. Today, over a quarter of BII’s entire portfolio is climate-related, up from 15% in 2020. In the past three years alone, the organisation has pumped more than $2 billion into climate finance.
The impact is tangible. BII’s 2023 organisation energy investments helped avoid 1.5 million tons of carbon dioxide equivalent emissions on an attributed basis—a 54 per cent increase year-on-year. This progress reflects both the growing number of renewable assets in its portfolio and the increase in clean energy production.
Beyond climate, BII also ramped up its focus on social impact. In 2024, it committed £499 million to gender finance and £880 million to projects in low-income and fragile states across its regions of operation.
All in all, BII’s latest numbers reflect a development finance strategy that is not only growing but also evolving to meet the world’s most pressing challenges.
Introducing the 2024 Annual Review, Diana Layfield, Chair of BII, said: “In a constrained financial environment, BII’s ability to put capital to work repeatedly to secure development impact, while also delivering a financial return for the UK taxpayer, is particularly valuable. In an increasingly unpredictable geopolitical environment, our investments, which support emerging economies to grow, create jobs, and develop sustainable infrastructure to mitigate climate change and its impacts, are critically important.”
Leslie Maasdorp, the Chief Executive of BII, added: “BII represents a unique platform to take development finance to the next level at a time when that is most needed. Now more than ever, we need to be bold about the impact we can have, ensuring we bring others along with us. We need to find ways to deploy finance to drive development impact. We need to mobilise the private sector as an engine for change and transformation.”