POLITICS & INSTITUTIONS - ECONOMY

Sustainable finance innovators recognised



Pierre Gramegna, centre, surrounded by representatives from the 4 winning fund management firms Finance ministry

Pierre Gramegna, centre, surrounded by representatives from the 4 winning fund management firms Finance ministry

Four international fund management firms, including one based in Luxembourg, have been awarded in Luxembourg for innovative sustainable finance projects.

The laureates were announced by the International Climate Finance Accelerator Luxembourg (ICFA) at the first Luxembourg Sustainable Finance Forum on Wednesday.

They include:

  • Empower New Energy, an investment company offering clean and affordable energy financing solutions in developing countries;
  • Impact Capitalyst, a fund manager investing in sustainable agricultural businesses active in sub-Saharan Africa;
  • Serimus Hydro, a Luxembourg-based asset manager specialising in the financing of small hydropower plants;
  • Uberis Capital, an investment company with societal impacts active in emerging countries.

In addition, Lightsmith Group, an investment company specialising in environmental technologies, was awarded the “ICFA Ambassador” title for its commitment to climate finance.

“I congratulate the four winners and the ambassador for their innovative projects that they are implementing in Luxembourg,” Luxembourg finance minister Pierre Gramegna said on Wednesday, adding: “Their know-how and management strategies will not only contribute to the effective fight against climate change, but will also make a valuable contribution to the ecosystem of sustainable finance.”

The ICFA was launched in June 2017 by the finance ministry and sustainable development and infrastructure ministry with a group of private actors to create the necessary structures for climate finance, notably by offering support to investment fund managers, both nascent and innovative, who wish to invest in projects with a measurable impact in the fight against climate change. Two-thirds of the initiative are financed by the two ministries and the remainder by the private sector.