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The Green Climate Fund is the world's biggest dedicated fund designed to help developing countries mitigate and adapt to climate changeand it's looking for new investments.
Henry Gonzalez, the fund's deputy executive director and chief investment officer, tells AsianInvestor that the fund is looking for projects that have "a paradigm shift potential and a climate impact potential."
"We are able to have a high-risk appetite, as long we can believe there is also high impact," he says.
Gonzalez says 34% of the fund's committed capital has gone to Asia, which includes low- and middle-income countries, Central Asia, and the Pacific islands.
He says the fund has made "big investments" in renewable energy, energy efficiency, access to energy, transport, mobility, electric vehicles, and hard-to-abate industries.
The Green Climate Fund was established in 2010 by 194 sovereign governments under the United Nations Framework Convention on Climate Change.
It has received $11.2 billion in investments so far, with $4.2 billion of that going to projects.
Gonzalez says the fund is trying to bring together philanthropic, public, and private capital to "de-risk opportunities to crowd in other investors."
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Spotlight
Social Entrepreneurship: The Right Balance of Doing Good and Doing Well
Social entrepreneur and co-founder of nonprofit Jolkona, Adnan Mahmud, discusses his definition of a successful social entrepreneur. He describes the social entrepreneur as someone who has found the right balance between doing good while doing well.
