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Bloomberg ($):

Blackstone Inc. is adding to its bets on sustainability and climate change, with a $3 billion investment in clean energy and infrastructure-focused Invenergy.

Blackstone’s infrastructure group will take a minority stake in the renewable energy developer, with Invenergy and Canadian pension fund Caisse de dépôt et placement du Québec remaining the majority owners of the business. 

“Blackstone is committed to investing behind the energy transition and we are excited to partner with Invenergy, which is the clear independent leader in the renewable energy sector,” Sean Klimczak, global head of infrastructure at Blackstone, said in an email.

The largest investors are increasingly focused on sustainability. Four-fifths of investment decisions either always or often incorporate climate risk, according to a survey published by Aviva Investors last year.

[Heather Perlberg]

More: Blackstone Invests $3 Billion in Invenergy for Clean Energy

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