Governance related to CIO and CFM

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Governance of Climate Investor One/ Climate Fund Managers

FMO played a material role in the initial development and launch and in the existing governance of the Climate Investor One facility and their investment manager, Climate Fund Managers.

In 2015, FMO in partnership with Phoenix InfraWorks established the Climate Investor One facility (consisting of in principle three constituent fund entities, Stichting Development Fund and Coöperatief Construction Equity Fund U.A., and with Coöperatief Refinancing Fund U.A. still to be established), to encourage private sector investment into renewable energy projects in developing countries.

The Climate Investor One facility is managed by Climate Fund Managers, a joint venture between FMO and Sanlam InfraWorks (a formal cooperation between Phoenix InfraWorks and Sanlam, of South Africa).

Climate Fund Managers is solely and independently in charge of the investment activities, operations and general day-to-day decision making of the Climate Investor One legal entities. FMO is involved in key oversight committees of Climate Fund Managers and remains responsible in overseeing and managing the interests of public investors who invest in the Climate Investor One fund entities (also through utilizing FMO’s accredited entity status) and in such capacity represents such public investors’ interest through representation in certain formal fund oversight committees. Furthermore, FMO in its capacity as development finance institution, is one of numerous investors in one of the Climate Investor One constituent entities, the Coöperatief Construction Equity Fund U.A, and in that capacity represented at arm's length in formal fund oversight committees along with other investors in the Coöperatief Construction Equity Fund U.A..

Summary of the key FMO roles in Climate Investor One

Climate Fund Managers

  • Shareholder (non-controlling interest)
  • Supervisory Board nominees

Climate Investor One | Development Fund

  • Management Board: sole statutory Management Board member
  • Climate Investor One Funds Advisory Board: FMO represents the Access to Energy Fund and Green Climate Fund
  • Investment Committee: FMO represents DGIS (Directorate-General for International Cooperation, department of the Ministry of Foreign Affairs of the Netherlands).
  • Donor management: DGIS, European Commission, USAID, Green Climate Fund

Climate Investor One | Construction Equity Fund

  • Climate Investor One Advisory Board: entitled to a nominee granted on basis of FMO being a large investor
  • Investment Committee: FMO represents the Access to Energy Fund and also entitled to a nominee granted on basis of FMO being a large investor
  • Donor management: European Commission, USAID, Green Climate Fund and DGIS.