Chennai: In a pioneering move towards combating climate change and fostering sustainable development, Edelweiss Alternatives is launching its First Climate Fund. This fund is committed to supporting India’s noteworthy ambition for a carbon-neutral economy and providing a fillip for efforts to nudge the adverse impacts of climate change on Earth decisively.
In accordance with G-20’s commitment to mobilize financial resources in climate-related projects, Edelweiss Alternatives’ Climate Fund will diligently invest in a wide array of climate-related projects – ranging from climate mitigation to climate adaptation like renewable energy, transmission infrastructure, EV infrastructure, Green Infrastructure, water treatment, transport decarbonization, industrial decarbonization, and any such other related verticals.
The fund would offer the investors a long-term viable investment vehicle to participate in the world’s largest market for sustainable energy transition and generate far more worthwhile and steady returns.
A gamut of steps from member countries of G-20 and climate-specific policy initiatives heralded by the government of India has garnered widespread support from various international organizations and the investor community. This reflects a forward-looking approach which positions India as a leader in the global fight against climate change.
As a commitment to integrate ESG considerations and promote sustainable and responsible investing practices in the investment decision-making process, Edelweiss Alternatives is also now a signatory to the United Nations Principles for Responsible Investment (UNPRI).
- This fund will support India’s commitment to take the lead in driving the climate change agenda.
- The fund will invest in a wide array of climate-related projects – ranging from climate mitigation to climate adaptation like renewable energy, transmission infrastructure, EV infrastructure, Green Infrastructure, water treatment, transport decarbonization, industrial decarbonization, and any such other related verticals.
- It will offer investors a long-term viable investment vehicle to participate in the world’s largest market for sustainable energy transition and generate far more worthwhile and steady returns.
Venkat Ramaswamy, Chairman, Edelweiss Alternatives said, “Sustainable growth and inclusive energy transition is central to Prime Minister Narendra Modi’s vision for India. This fund will endeavour to support India’s vision towards building a net-zero economy. The launch of Edelweiss Alternatives’ Climate Fund reflects our determination to build a sustainable future for our citizens and the rest of the world. This is an investment for our shared planet and will reinvigorate India’s growth story”.
Subahoo Chordia, President and Head Real Assets, Edelweiss Alternatives said “As per estimates, about USD 10tn of investment is required to achieve India’s 2070 net zero target. Our Climate Fund will look to invest in this growing and attractive investment opportunity while also contributing to achieving Sustainable Development Goals like climate action (SDG 13), clean energy (SDG 7), clean water (SDG7) and sustainable cities (SDG 11). Further, transport and buildings provide attractive decarbonizing opportunities, which also play a critical role in creating a sustainable and low-carbon future”.
Edelweiss Alternatives is an existing investor in renewable power and transmission sectors, and with further investments from its funds, it looks to achieve generation of 450+ billion units of renewable energy, 450+ million tonnes of CO2 emissions reduction, saving or reuse of 5000+ million litres of water, creating over 7 million job years. Edelweiss Alternatives has implemented international processes and uses appropriate technology to achieve the purpose.
About Edelweiss Alternatives:
Edelweiss Alternatives platform pioneered private debt in India with the launch of the USD 230 mn (INR 1,000 cr) fund in 2010. With a track record of over a decade, it has grown to be one of the largest alternative platforms in India with an AuM of ~USD 5.9 bn (over INR 49,000 cr). It focuses on providing high-quality credit and yield opportunities to global investors such as pension funds, insurance companies, large family offices and ultra-high net-worth individuals across performing credit (corporate and real estate), special situations and infrastructure yield.
