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Wales’ only FTSE 100 firm Admiral had made a significant investment into a European green focused infrastructure debt fund as part of its strategy of reaching net zero by 2040.

Through its subsidiary Admiral Insurance (Gibraltar) the Cardiff headquartered car insurance to loans group, has invested into Schroders Capital’s Junior Infrastructure Debt Europe Fund III (Julie III).

The fund focuses on backing infrastructure projects such as energy transition, digital infrastructure and green transportation, while delivering social benefits.

It has already backed a diverse range of projects, including a telecom operator helping bridge the digital divide between urban and rural communities, a rolling stock company upgrading its fleet to electric locomotives, and renewable energy platforms.

Admiral has committed to reaching net zero by 2040 with the investment supporting its aim of playing a role in providing solutions to climate issues.

Admiral’s chief financial officer, Geraint Jones, said: “This investment into Schroders Capital’s Julie III Fund aligns with both our strategic and commercial objectives.

"Our purpose is to help more people to look after their future which is why sustainability is embedded into our investment approach and we’ve committed to reaching net zero by 2040. However, we want to do this in a way that ensures that our business also remains sustainable over the long-term.

“This means making investments that we believe will have a positive impact on the environment and society and will also generate attractive financial returns.”