OeEB increases commitment to Global Climate Partnership Fund

The responsAbility-managed climate fund is a public-private partnership founded in 2009 by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) and KfW Entwicklungsbank. It currently manages close to USD 670 million of committed capital from both public and private investors.

The fund targets to mitigate climate change by financing energy efficiency and renewable energy projects in emerging markets, either directly or via financial institutions. Moreover, the fund invests in consulting local banks on green products through a dedicated Technical Assistance facility.

OeEB has been an investor in the fund since 2013 and has now increased its commitment by USD 20 million, up 66% to a total of USD 50 million. This increase in funding comes as a clear commitment to climate change mitigation and financing the SDGs.

"OeEB's main focus is to promote clean energy and energy efficiency in developing countries in order to improve access to energy and help mitigate climate change. The climate fund shares these goals which makes it an excellent partner for us. We are happy to continue to work together to create sustainable development and build a greener future," said Sabine Gaber, member of OeEB's executive board.

Speaking on behalf of responsAbility, Antoine Prédour, Head of Energy Debt, underlined: "This increase of funding is a clear expression of trust from an important investor who has witnessed our achievements in financing climate change mitigation over the past five years. There is a world of opportunities in the area, and we look forward to using them to mitigate climate change – together."