4/30/2023 0 Comments Lightsmith competitors![]() ![]() In addition, rising interest rates and broader market concerns may act as further barriers to private investment in adaptation finance, said Florian Kemmerich, managing partner at Bamboo Capital Partners, which focuses on such projects. However, specialists cite several reasons why delivering adaptation finance is a major challenge, including tracking the efficacy of adaptation finance, a lack of common impact metrics, returns often below commercial rates and an absence of comprehensive national adaptation plans. Yet the amount is still a small fraction of the $155bn-330bn needed annually for adaptation in developing countries, as estimated by the UN Environment Programme’s Adaptation Gap Report 2021, published in November last year (see also chart below). Some $46bn of adaptation finance was delivered in 2019-2020, according to think tank the Climate Policy Initiative (CPI), up 53% from $30bn in 2017-2018. Witness the catastrophic consequences of climate change such as the recent floods in Pakistan or the record-breaking drought in China. Yet it seems inevitable that many communities will need help living with environmental change, as hopes fade that the world will achieve a 1.5C-or-below warming trajectory. The lion’s share of climate finance flows into change mitigation – projects or solutions to prevent or reduce greenhouse gas emissions – with a far smaller pool of capital going towards funding for environmental adaptation and resilience. … but firms such as Bamboo Capital Partners, Climate Investment Funds and Lightsmith Group are working on new approaches to address the challenges.Issues such as tracking adaptation finance and measuring its efficacy and impact are holding up development.Capital committed to climate adaptation and resilience makes up a small fraction of climate finance.Pakistan’s record floods this year illustrate that adapting to climate change will be a lot more difficult for some than others. SDG 16, Peace, Justice and Strong Institutions.SDG 12, Responsible Consumption and Production.SDG 11, Sustainable Cities and Communities.SDG 9, Industry Innovation and Infrastructure.The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank. USD 250 million (EUR 219 million) Environmental aspects USD 27 million (EUR 24 million) Total cost (Approximate amount) ![]() Proposed EIB finance (Approximate amount) ![]() With a generalist approach the fund will benefit projects in Asia, Africa and the Americas investing growth equity in companies that provide data, tech-enabled services and products to manage the risks and impacts amplified by climate change. It is targeting private companies providing solutions to enhance adaptation and resilience to climate change, particularly for the benefit of developing countries and their vulnerable populations and livelihoods. ObjectivesĬRAFT would be the first EIB-supported investment fund dedicated to climate change adaptation and climate-resilience solutions. The Fund, domiciled in Luxembourg, has a target size of USD 250m and is managed by Lightsmith Resilience Partners. Companies will operate in or develop climate solutions for developing countries. ![]() Reference: 20170945 Release date: 13 April 2018 Promoter – Financial IntermediaryĬRAFT is an investment fund targeting private companies providing climate resilience solutions in order to drive adaptation to Climate Change. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |