As the 4th International Finance for Development conference concludes in Sevilla, ILX is pleased to present its 2024 Sustainability Report—an in-depth overview of ILX’s progress, partnerships, and purpose-led investments across emerging markets.
Scaling Impact through Increased Investor Commitments
In 2024, ILX secured significant new commitments to its flagship Evergreen ILX Fund I and launched ILX Fund II. APG, acting on behalf of its pension fund clients ABP and bpfBOUW, increased its allocation under a newly introduced impact mandate. This decision followed a rigorous, impact-driven assessment framework, which ILX successfully met through outcome-based KPIs aligned with IRIS+ standards. Pensioenfonds Vervoer also joined as a new investor.
Additionally, the first close of ILX Fund II was completed, supported by Danish pension funds Sampension and AkademikerPension. These developments underscore growing institutional interest in high-integrity, measurable impact strategies.
Deploying Capital at Scale for Climate and SDG Goals
By the end of 2024, ILX’s portfolio comprised 54 investments across 20 countries and eight sectors, totalling USD 1.07 billion. More than half of these investments directly support climate mitigation, while others advance inclusive finance, sustainable infrastructure, and agribusiness. A growing pipeline of opportunities aligned with biodiversity and nature-based solutions reflects the increasing importance of environmental resilience in sustainable development.
Net Zero in Emerging Markets
Following ILX’s commitment to the Net Zero Asset Managers (NZAM) Initiative in 2023, a comprehensive Net Zero Plan was developed using the NZIF 2.0 Private Debt Methodology. ILX has set ambitious targets: 30 per cent of assets under management aligned with Net Zero by 2030, 50 per cent by 2040, and full alignment by 2050. The strategy prioritises real-world emissions reductions through engagement with MDB and DFI partners, rather than divestment.
Carbon Footprint: Growth with Efficiency
Despite a near doubling of the portfolio, ILX Fund I achieved a 32 per cent reduction in carbon footprint and a 41 per cent decrease in greenhouse gas intensity year-on-year. This was driven by the addition of lower-emission investments and improved emissions tracking across the portfolio.
Biodiversity as a Strategic Investment Theme
Biodiversity has long been integrated into ILX’s environmental risk assessments, but 2024 marked a strategic shift. ILX engaged with WWF, the Finance for Biodiversity Foundation, and the International Finance Corporation (IFC) to deepen its approach. Investments now include biodiversity-linked loans, deforestation-free supply chains, and sustainable aviation fuel projects that reduce pollution and support circular economies.
Strengthening Data Integrity and Reporting Efficiency
ILX advanced its sustainability reporting systems by:
- Preparing for SFDR limited assurance with a robust control framework.
- Integrating reporting into its ISAE 3402 Type II audit scope.
- Building scalable, automated data systems to support transparency and traceability.