GCPF presents the 2012 annual report
On March 14, 2013 the Global Climate Partnership Fund hosted its first annual reception in Berlin. GCPF presented its past achievements and its 2012 annual report to an audience which included, amongst others, private investors, NGOs, the press as well as attendees of the Board Meeting of the Green Climate Fund, the operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC).
The Global Climate Partnership Fund was especially pleased to announce that the ÄrzteVersorgung Westfalen-Lippe had joined the Fund as its first private investor. Another highlight was the closing of the Fund’s first direct investment, the Cronimet photovoltaic plant in South Africa. Operationally, the Fund is now active on four continents with an outstanding portfolio of USD 152.8 million. With an operating profit before taxes of USD 2.4 million, the Fund was able to reach a good yield for its investors while global economic conditions have remained volatile throughout the year.
The Fund’s partner institutions generated a significant increase of greenhouse gas emissions savings reaching a CO2 emission reduction of 49.1% on average compared to a “business as usual” scenario. Disbursements have gained traction throughout 2012 and the Fund remains confident that it will speed up further within 2013.
The Global Climate Partnership Fund was particularly pleased by the large attendance of delegates of the Green Climate Fund board meeting, as well as the strong public support shown by the Fund’s key stakeholders. The reception was opened by Dr. Norbert Kloppenburg, Member of the Executive Board of KfW, and Jürgen Fitschen, Co-Chairman of the Management Board and the Group Executive Committee of Deutsche Bank, followed by a key note speech given by Ursula Heinen-Esser, Parliamentary State Secretary of the German Federal Environment Ministry.
For the annual report, please click here