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    Reference: 20200816
    Release date: 2 July 2021

    Promoter – Financial Intermediary

    ALLIANZ GLOBAL INVESTORS GMBH

    Location

    Description

    Emerging Market Climate Action Fund (EMCAF) will be a fund-of-funds targeting EUR 500 million to invest in funds providing funding to climate mitigation and climate adaptation, as well as environmental sustainability projects in developing countries. It will be managed by Allianz Global Investors, to which the EIB will act as investment advisor.

    Objectives

    The resources of the Fund will be utilised to provide financial support to infrastructure and climate funds, which will finance greenfield climate adaptation and mitigation projects in developing countries (non-OECD), in addition to environmental projects. The projects will contribute to avoiding or reducing greenhouse gas emissions.

    Comments

    Disclaimer: This information is not an intended offering by AllianzGI for investors.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply
    • Industry - Construction

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 500 million

    Environmental aspects

    The Bank will require that the funds to be financed ensure that all investments are compliant with EIB social and environmental standards and guidelines. The capacity of the fund manager to assess and monitor environmental and social impact and risks of the individual investments to the satisfaction of the Bank will be further assessed during appraisal.

    Procurement

    The Bank will require the fund to ensure that all EIB-eligible investments are implemented in accordance with the Bank's Guide to Procurement.

    Status

    Approved - 15/09/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Regional - Asia Regional - Latin America Energy Industry