IFM's Growth Partners Fund 2 has acquired a 49% stake in Splend, a subscription vehicle provider for rideshare drivers in Australia and the UK, to bolster its exposure to climate solutions in the global portfolio. HESTA, through its mandate with IFM, has also invested in Splend as part of its goal to have 10% of its portfolio dedicated to climate solutions by 2030. Splend, founded in 2015, boasts one of the largest electric vehicle fleets in Australia, aiding rideshare drivers in transitioning to lower emission vehicles through flexible finance options. The company's fleet of nearly 7000 vehicles in Australia and the UK is contributing to emissions reduction by over 19,000 tons of CO2 annually. The investment in Splend signifies a strategic move towards supporting sustainable transportation solutions, aligning with the broader industry shift towards environmentally friendly practices. IFM highlights Splend's growth potential, strong customer value proposition, and strategic partnerships, such as with Uber, as key factors in the investment decision. This strategic investment in Splend reflects a positive outlook on the company's role in driving climate-friendly practices and delivering long-term returns while contributing to the energy transition objectives of both IFM and HESTA.