Apollo Global Management evidently plans to establish an impact investing arm, anonymous sources told Bloomberg News this week. It’s great to see another major investment firm join the sustainable/make-a-difference cohort. For impact investment to really work to scale, we need everyone on board. It’s an entire world we’re trying to save here.

Sources told Bloomberg News that the New York-based firm is seeking at least $1 billion to debut the fund. Apollo has $312 billion in assets overall.

Environmental, social and governance (ESG) funds are increasingly in demand. TPG has the largest impact investing fund to date at $2 million and company representatives say they’re aiming for at least $3 billion for a second fund. KKR & Co. recently surpassed its goal of raising $1 billion for its first global impact fund and Blackstone Group and Carlyle are also working on impact strategies.

It’s a new day as investors respond to global threats in sectors like water, the environment, and climate change by wanting to make a difference with their money. Shareholders want more than financial returns – they want to solve some of the planet’s biggest challenges.