Global Climate Partnership Fund SA
Status: Proposed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
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 prospective customer?
Global Climate Partnership Fund SA, SICAV-SIF (GCPF) is a closed-ended investment company organized under the Grand Duchy of Luxembourg laws. The Fund is managed by responsAbility Investments AG (rA) and is active mainly in Asia, Central & South America, and Sub-Saharan Africa. The Fund’s mandate is contributing to climate change mitigation by reducing greenhouse gas emissions in line with long-term global warming targets of the Paris Climate Agreement, focusing mainly on renewable energy (RE) and energy efficiency (EE) projects, as well as other initiatives like agriculture, land use, land-use changes, and forestry. This objective is primarily achieved via indirect investments (financial institutions) and direct investments (ESCOs or energy service companies, RE companies, small-scale RE/EE service and supply companies). The Fund will expand its mandate to explore financing projects that serve the Climate Adaptation objective. FMO has been a shareholder of GCPF since 2015. Alongside FMO are several other reputable and well-known international and development finance institutions (IFIs and DFIs) and governmental institutions.
What is our funding objective?
FMO is providing financing to GCPF through an investment of USD 35 million split equally in the Senior tranche (A-shares) and Mezzanine tranche (B-shares) of the fund for a tenor of 8.5 years. The funds will be used to serve the fund’s general climate mitigation mandate, invest in local FI partners (to be on-lent to green projects), or direct investments in the form of corporates or project finance.
Why do we want to fund this investment?
FMO’s funding provides the opportunity to (re)invest in a longstanding partner with deep expertise in climate finance, supporting it to further scale its impact in underserved regions with a significant financing gap. GCPF’s investments are considered additional to FMO’s investments as GCPF generally reaches clients that FMO cannot usually target directly or who require specialized knowledge. In addition, FMO’s investment will help GCPF mobilize more private/commercial investors.
What is the Environmental and Social categorization rationale?
GCPF has been classified as an E&S Category A per FMO's Sustainability Policy. The categorization is not solely based on the Fund's use-of-proceeds but takes a holistic view on each of the Fund's portfolio companies. The portfolio consists of exposures to financial institutions that have exposure to corporate, project finance, and high-risk sectors. In addition, the Fund invests in direct investments in energy efficiency companies and solar developers for commerce and industry (C&I). The Fund's mandate excludes high-risk projects (Category A) for financial institutions and C&I investments. GCPF addresses portfolio E&S risks by implementing investment eligibility criteria and E&S requirements for their partner institutions, supported by its Environmental and Social Management System (ESMS). The Fund's ESMS incorporates relevant aspects necessary for effective E&S risk management, including an exclusions list aligned with FMO's exclusions list and guided by internationally recognized frameworks such as the IFC Performance Standards and the ILO Fundamental Conventions. The ESMS is operated by an E&S specialist within responsAbility (the fund manager), supported by the trained investment officers.
More investments
| Date | Total FMO financing |
|---|---|
| 7/23/2019 | EUR 0.05 MLN |
| 1/29/2015 | USD 20.20 MLN |
| 1/29/2015 | USD 20.20 MLN |
| 3/4/2025 | USD 17.50 MLN |
- Website customer/investment
- https://gcpf.lu/
- Region
- Europe & Central Asia
- Country
- Europe & Central Asia
- Sector
- Financial Institutions
- Publication date
- 3/4/2025
- Deadline for feedback
- 5/3/2025
- Total FMO financing
- USD 17.50 MLN
- Funding
- 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) - A