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Developing World Markets

Developing World Markets is a private equity firm with offices in 13 countries across Africa, Asia, Europe, and the Americas. It joined the Net Zero Asset Managers Initiative on 29 March 2021 and its initial target disclosure was published on 1 May 2022.

Initial Target Disclosure: May 2022

Percentage of assets covered by the Net Zero Asset Managers Commitment Statement

100% of total AUM (USD $0.6 billion)

Information on interim target(s) covering the proportion of assets to be managed in line with net zero



Engagement threshold baseline

10% of financed emissions under engagement in 2021


Allocation to climate solutions baseline

10% of AUM allocated to climate solutions.



Engagement threshold target

100% of financed emissions under engagement by 2030


Allocation to climate solutions target

20% of AUM allocated to climate solutions by 2030


Portfolio coverage target

Po100% of AUM in material sectors is considered net zero aligned or aligning by 2040

GHG scopes included:

Scope 1: DWM does not operate any facilities or vehicles

Scope 2: Purchased electricity for DWM offices

Scope 3: Business travel and financed emissions from our investment portfolio


Net Zero Investment Framework

Additional information

Proportion of AUM committed:


Further information:

DWM makes impact investments, i.e. investments made with the intention of generating positive social and environmental outcomes aligned with its impact objectives. DWM’s current assets are largely inclusive financial institutions serving poor and low-income clients in emerging and frontier markets. The inclusive finance sector is not carbon intensive and most countries where DWM invests are relatively low emitting. Nevertheless, DWM plans to both reduce the emissions intensity of our existing portfolio and increase investments in climate solutions that support the transition to a green economy, in line with the Net Zero Investment Framework. Please see our 2021 impact report for more information – uploads/2021/Developing-World-Markets-Impact-Report-2021.pdf.