Finnfund is committed to investing in businesses which mitigate climate change and help people in developing countries adapt to it. These climate investments will be made in 2019-2021.
The amount is one half of the 210 million euro loan issued to Finnfund by the Finnish Government in 2019. We will invest the other half in projects which advance gender equality.
In its climate change investments, Finnfund applies the OECD DAC Rio Markers for Climate.
105 million euros by the end of 2021
Commitments as of February 2020 (starting April 2019)
According to the Intergovernmental Panel on Climate Change (IPCC), limiting warming to 1.5°C requires a marked shift in investment patterns. Additional annual energy-related investments alone are estimated to be around USD 800 billion. On top of that, developing countries will need to make sizeable investments in adaptation.
Development financiers play an important role in mobilising and channelling funding to climate investments.
(February 2020) Detailed information published after signing of agreements
|Company A||Thailand||Electrical equipment||EUR||3,000,000||2019|
|Company B||Latin America||Bank and finance||USD||15,000,000||2019|
|Company C||Ukraine||Wind power||EUR||2,900,000||2019|
|Company D||Ukraine||Wind power||EUR||2,100,000||2019|
|Company E||Ukraine||Wind power||EUR||5,000,000||2019|
Examples of investments in climate
More reliable and energy efficient telecommunications in Lebanon and Guinea
IPT PowerTech Group will modernize the energy supply infrastructure in Lebanon and Guinea. The hybrid solution utilizing solar panels and storage media will save up to 40% of energy and reduce diesel consumption significantly. The annual CO2 emission reductions have been calculated at 115,000 tons per year.
Sustainable teak and cocoa plantation in Nicaragua scores top impact points
A project to expand FSC certified teak and UTZ certified cocoa plantations in Nicaragua scores exceptionally high points in Finnfund’s development impact assessment. The high score is based on the project’s contribution to carbon capture, protection of fauna and curbing deforestation as well as the various social impacts