SUCCESSFUL BUSINESS YEAR 2018 FOR GCPF
The Global Climate Partnership Fund has just disclosed its results for 2018. Outstanding achievements include a 25% increase in reduction of CO2 emissions through the fund’s activities, mainly caused by very active on-lending by partner financial institutions.
2018 saw the Global Climate Partnership Fund finance a record number of energy projects. A further increased network of 34 partner institutions in 25 investment countries disbursed a total of 20,796 sub-loans for projects which, over their life-time, will reduce CO2 emissions by 2.8 m t. This brings the total amount of CO2 emissions saved since inception of the fund to 12.8 million t, a 25% increase over 2017.
The total installed capacity of renewable energy generation of projects financed by the Fund reached 339 MW. The 107 MW increase was mainly driven by solar PV projects and biomass electricity generation projects. At the end of 2018, the total annual renewable energy production amounted to more than 1,000 GWh.
GCPF´s key achievements 2018
- A 25 % increase in CO2 emission reduction over financed projects’ lifetime
- Continued growth in invested portfolio to USD 504 m
- Healthy funding base with commitments reaching USD 667 m
- 7 new partners in 3 countries added to the portfolio
- A 28% increase in number of green loans disbursed by partners
- Local currency funding introduced
- New record for Technical Assistance activities
The Fund’s invested volume grew by USD 22 million to USD 504 million in 2018. The investment portfolio was further diversified geographically and now covers 34 partner institutions across 25 emerging economies.
As of end 2018, funding commitments to GCPF totaled USD 667 million, an increase of USD 51 million when compared to 2017. Out of the total commitments, USD 550 million were subscribed. In the course of the year, the Fund raised Notes from new private investors as well as additional Class A, Class B and Class C shares from public investors.
Commenting on the Fund’s 2018 results, Claudia Arce, Chairperson of the Board of GCPF, explained: “With CO2 savings being the key performance indicator for the Global Climate Partnership Fund, 2018 was a truly outstanding year. The Fund once again demonstrated its ability to respond to the evolving demands of a constantly growing market.“
CONTACT
Global Climate Partnership Fund S.A., SICAV-SIF
14, Boulevard Royal
L-2449 Luxembourg
