Edelweiss Alternatives launches its First Climate Fund
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, electric vehicle (EV) infrastructure, green infrastructure, water treatment, transport decarbonisation, industrial decarbonisation, 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.
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 support India’s noteworthy ambition to a carbon neutral economy and provide a fillip for efforts to decisively nudge the adverse impacts of climate change on Earth.
In accordance with G-20’s commitment to mobilise 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 decarbonisation, industrial decarbonisation, 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 organisations 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 environmental, social and governance 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).
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 endeavor 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 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 $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 achieve the Sustainable Development Goals (SDG) like climate action (SDG 13), clean energy (SDG 7), clean water (SDG7) 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”.
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 more than 450 billion units of renewable energy, over 450 million tonnes of carbon di-oxide emissions reduction, saving or resuse of more than 5,000 million liters of water, creating over 7 million job years. Edelweiss alternatives has implemented international processes and uses appropriate technology to achieve the purpose.