Project detail - ResponsAbility Asia Climate Fund SICAV-RAIF

ResponsAbility Asia Climate Fund SICAV-RAIF

Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

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
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)