Nest, the largest workplace pension scheme in the UK by membership, announced a £200 million commitment to support next-generation climate solutions through a partnership with investment manager IFM Investors.

IFM’s next generation infrastructure credit strategy focuses on international lending opportunities across developed markets, supported by a pipeline of opportunities in the U.K. The strategy targets growth-stage companies with proven technologies and demonstrated commercial demand that have progressed beyond early-stage risk but remain underserved by traditional infrastructure debt markets, according to the pension scheme.

Nest said that the initiative is designed to support innovative projects and companies that are believed to be well positioned to benefit from the transition to a lower-carbon economy.

The new investment follows the acquisition by Nest last year of a 10% stake in IFM. Nest said that it intends to invest £5bn through IFM by 2030.