Frankfurt am Main, Germany, 27 June 2018 – The Green for Growth Fund (GGF), advised by Finance in Motion GmbH, today held its first Sustainable Future Forum in Frankfurt, Germany. More than 250 innovators and leading industry experts discussed how to actively shape the future of green finance and green growth, with a focus on energy and resource efficiency and renewable energy.
GGF Chairman, Christopher Knowles, said: “Today, champions of the green transformation have come together to offer in-depth insights from a broad range of different perspectives. This committed group shares the common goal of accelerating a transformation into a green and sustainable future. The event fosters a spirit of cooperation, local partnerships and the sharing of knowledge.”
The Sustainable Future Forum had a strong focus on private sector driven sustainable growth, promoting innovative ideas and new leading-edge approaches to green financing, exploring the core aspects of a greener economy, new business models and novel awareness raising concepts that support the transformational process, with pitches from the five finalists in a new innovation competition, clim@, supported by the GGF.
Among panellists were Simon Braaksma, Senior Director of Group Sustainability at Philips, Anton Koller, Divisional President of Danfoss District Energy, Shona Tatchell, CEO and Founder of Halotrade, a Fintech focused on the delivery of sustainable supply chain financing; and Ahmed Zahran, CEO and Co-Founder of KarmSolar, Egypt’s largest private off-grid solar energy integrator. Keynote speakers at the forum included Heike Backofen-Warnecke, Federal Ministry of Economic Cooperation (BMZ), Per Espen Stoknes, Director at the Center for Green Growth, and Barbara Buchner, Executive Director at the Climate Policy Initiative.
Knowles continued: “Through the support of its key investors, the European Union and the German Federal Ministry for Economic Cooperation and Development, as well as public institutions and increasingly more private investors, the fund has been able to support investments on the ground which reduce energy consumption, CO2 emissions, and create an efficient use of resources. The Green for Growth Fund has been actively promoting sustainable energy and resource efficiency investments since 2009. Flagship renewable energy projects have been carried out across 19 markets and more than 60 partners – to support nearly EUR 700 million in investments for the green transformation of more than 25,000 households and companies.”
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 (E&S) risks associated with its investments, the fund sets standards for its partners and supports them to enhance their own E&S 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 see www.ggf.lu and follow us on Twitter @GreenGrowthFund
Media contact GGF
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Phone: +49 (0)69 271 035-171