ResponsAbility Asia Climate Fund SICAV-RAIFStatus: Approved investment
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Who is our customer
The Asia Climate Fund (ACF) is an up to USD 500 million closed-ended debt fund to be managed by responsAbility Investments AG, an asset manager in the field of impact investments.
What is our funding objective?
Asia Climate Fund will provide a mix of medium- and long-term financing to promote climate mitigation and GHG reduction investments, mainly focusing on companies offering energy solutions for the Commercial & Industrial sector, as well as energy efficiency, electric mobility, and other climate technologies. Financing will target transactions in South and South-East Asia, with key markets to include India, Thailand, Vietnam, Indonesia and the Philippines.
Why do we fund this investment?
There is urgent need to rapidly scale up clean energy solutions and capacity in Asia. Debt financing for non-utility scale (decentralized) energy in Asia is considered particularly scarce. The Fund intends to have substantial impact by combining market needs with innovative financing products and would provide a mix of structured debt solutions targeting different capital requirements to help support upcoming climate technologies and business models. FMO’s role as anchor investor in the first closing for the fund will contribute to the mobilizing of institutional investors.
What is the Environmental and Social categorization rationale?
This transaction is labelled as E&S risk category B, similar to the classification of other off-grid and renewable energy debt funds in FMO’s portfolio. Considering the envisaged loan portfolio of the Fund, the majority of potential projects are expected to be classified as ‘category C and B’ according to the IFC risk categorization (‘low and medium E&S risk’), with only very few expected to be classified as category B+ (‘medium-high E&S risk’).
- Website customer/investment
- Publication date
- Effective date
- Total FMO financing
- USD 16.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)