Climate change
The GCF, a critical element of the delivery on the Paris Agreement, is the world’s largest climate fund, mandated to support developing countries raise and realise the ambition of their Nationally Determined Contributions (NDC) towards low-emissions, climate-resilient pathways.
As a partner of the GCF, through Macquarie entity Macquarie Alternative Assets Management Limited (MAAML), we are able to propose climate projects with potential to access the Fund’s financial reserves.
Macquarie is managing a new blended finance platform with the GCF, to drive the adoption of electric vehicles (EVs) across India.
Transportation contributes 13 per cent of India’s total CO2 emissions, the third-highest emitting sector, with emissions forecast to increase.1 This program aims to reduce the country’s CO2 emissions and improve urban air quality.
The financing platform aims to deliver $US1.5 billion to the e-mobility sector over it's 10-year implementation period and is expected to deliver a lifetime reduction of ~9.5 MtCO2e of greenhouse gas emissions.2
The GCF has approved a commitment for $US200 million of junior equity to establish a first-of-its-kind EV focused leasing and financing company in India.
The blended finance structure is designed to crowd-in private sector capital, leveraging GCF’s commitment to provide a risk-mitigating buffer to commercial investors.
Macquarie aims to raise a further $US205 million from institutional investors to capitalise the platform and, over time, the platform hopes to mobilise a total of ~$US1.5 billion of capital (including debt finance).
Read how Macquarie is leading the development of a new blended finance platform, with the UN’s Green Climate Fund, to drive the adoption of electric vehicles across India.
If you have any queries or funding proposals, please contact us.
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