applications for clim@ competition 2020 close with resounding success
More than half of applications received come from GGF target regions
Frankfurt am Main, Germany, 26 February 2020 – Applications for the 2020 clim@ competition have closed with more than 200 applications received from 60 countries, showcasing innovative business ideas that have the power to fight climate change and protect our environment across four broad themes: renewable energy, energy efficiency, circular economy solutions, and improved resource management. With a focus in 2020 on market-ready ideas from advanced start-ups and established businesses, the high level of interest is particularly exciting. The reputation and reach of the Green for Growth Fund (GGF) is clearly evident in the applications, with more than half of all entrants from GGF target markets, also demonstrating the great potential for green entrepreneurship in those regions.
This would not have been possible without the support of more than 30 partners of clim@, including GGF partner financial institutions Garanti Bank, Burgan Leasing, Pro Credit Bank Serbia, and TBC Bank, who helped promote the call for applications within their own networks.
Applications are already being screened and shortlisted finalists will be invited to pitch their
ideas at the clim@ finals in Frankfurt am Main, Germany on 02 June 2020. Grand finalists will then be invited to present their entries at the GGF Sustainable Future Forum on 03 June – an opportunity to position themselves in front of a senior audience of green leaders shaping the future of climate action and sustainable investments.
clim@ is organized by Finance in Motion GmbH on behalf of the GGF and sponsored by the European Commission and the German Federal Ministry for Economic Cooperation and Development (BMZ).
about the GGF
The GGF helps reduce the use of energy and resources and prevent CO2 emissions. It pursues this goal by providing dedicated financing to businesses and households across 19 markets in the Southeast Europe Region including Turkey, the European Neighborhood Region-East, and the Middle East and North Africa. By using a blended finance structure and working through local partner institutions, the GGF is able to raise awareness and implement green finance activities. The fund combines its financial offering with tailored technical assistance that helps build capacity and which brings energy efficiency measures, renewable energy, and improved resource management toward the mainstream. In addition, by managing the environmental and social risks associated with its investments, the fund sets standards for its partners and supports them to enhance their own management systems, as required.
The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Management & Consulting Services GmbH, Frankfurt am Main acts as the technical advisor.
For more information on Finance in Motion, please visit: www.finance-in-motion.com
about the GGF TAF
The GGF Technical Assistance Facility (TAF) plays a key role in supporting the Fund’s promotion of energy efficiency (EE) and renewable energy (RE) by providing targeted technical assistance to financial institutions and project developers in conjunction with GGF funding. The facility operates hand in hand with the GGF, complementing its investments with the following activities: capacity building and training for GGF partners; validation and monitoring of energy savings and CO2 emission reductions; strategic advice to the Fund’s managers based on research and analysis; increasing the awareness and acceptance of EE/RE solutions in the financial sector and among the public.
media contact GGF
Manager Marketing & Communications
Phone: +49 (0)69 271 035-171