In a pioneering move towards addressing climate change and fostering sustainable development, Edelweiss Alternatives has launched its first “climate fund”. This fund will support India’s ambitious goal of building a carbon-neutral economy and provide a fillip to efforts for mitigating the adverse impacts of climate change.
In accordance with G20’s commitment to mobilise financial resources for climate-related projects, Edelweiss Alternatives’ climate fund will invest in a range array of climate-related projects – from climate mitigation to climate adaptation initiatives such as renewable energy, transmission infrastructure, electric vehicle infrastructure, green infrastructure, water treatment, transport decarbonisation, industrial decarbonisation, and other related verticals.
The efforts of G20 member countries and the Indian government’s climate-specific policy initiatives have garnered widespread support from various international organisations and the investor community. These initiatives reflect a forward-looking approach that positions India as a leader in the global battle against climate change.
As a commitment to integrate environmental, social and governance considerations, and promote sustainable and responsible investing practices in the investment decision-making process, Edelweiss Alternatives has become a signatory to the United Nations Principles for Responsible Investment.
Venkat Ramaswamy, chairman, Edelweiss Alternatives, said, “Sustainable growth and inclusive energy transition are 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 towards building a sustainable future for our citizens and for the rest of the world. This is an investment for our shared planet that will reinvigorate India’s growth story.”
Subahoo Chordia, president and head, Real Assets Funds, Edelweiss Alternatives, added, “As per estimates, about $10 trillion 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 the achievement of Sustainable Development Goals (SDGs) such as climate action (SDG 13), clean energy (SDG 7), clean water (SDG 6) and sustainable cities (SDG 11). Further, transport and buildings provide attractive decarbonising opportunities, which also play a critical role in creating a sustainable and low-carbon future.”