Lightsmith and company1/14/2024 “It is a game changer and a strong example of the role the private sector can play in mobilizing adaptation finance and delivering innovative solutions to complex climate challenges.” By committing to the first private sector investment fund for adaptation, GCF’s catalytic investment will accelerate the transfer of private sector technologies to developing countries, boosting climate adaptation efforts and resilience, while promoting a green recovery from the COVID-19 pandemic,” said Yannick Glemarec, Executive Director of the Green Climate Fund. “GCF is extremely proud to make this investment in CRAFT. Pegasus Capital Advisors, a leading global private markets impact investment manager, serves as the accredited entity to GCF for its commitment. The GCF, established by 194 countries under the UN Framework Convention on Climate Change in 2010, has committed $46 million to become the largest investor in Lightsmith Climate Resilience. Lightsmith Climate Resilience is based on an investment strategy (referred to as “CRAFT”, the Climate Resilience and Adaptation Finance and Technology-transfer facility) developed with the support of the Global Innovation Lab for Climate Finance, Nordic Development Fund, the Global Environment Facility, Conservation International, and the International Climate Finance Accelerator (Luxembourg). “Climate resilience technology is an opportunity for investors and for us all.” Investing in climate resilience solutions can deliver both financial returns and real benefits to companies, communities, and individuals,” said Wagle. One thing we do know is that companies that have smart solutions to respond to climate change will be increasingly in demand. “As investors, we know very little about the future with any certainty. “Increasing drought, agriculture stress, and supply chain disruption linked to climate change will drive demand for data and analytics to understand those risks and for the solutions to manage them.” “Climate resilience technologies are an overlooked, multi-billion dollar investment opportunity that will just keep growing,” said Koh. This advertisement has not loaded yet, but your article continues below. “Lightsmith has brought together a team with a unique combination of experience in direct investment and climate change and has secured the commitment of leading global investors to invest in climate resilience.” “Lightsmith Climate Resilience is the first private equity fund to focus on investing in solutions to the effects of climate change,” said Kauffman. Lightsmith Climate Resilience is committed to delivering economic returns while adhering to global environmental, social, and governance (ESG) standards and providing impact assessment through its Impact Measurement System (IMS). To date, Lightsmith Climate Resilience has made investments in SOURCE Global, a water harvesting technology company with an off-grid solution to produce affordable drinking water from sunlight and air, and Wa圜ool Foods, an India-based agriculture and food supply chain services company applying physical automation and digital technology to reduce food wastage and improve farm output. Lightsmith Climate Resilience helps companies scale up by applying their technologies to help businesses and communities adapt to climate change, by expanding internationally, particularly in emerging markets, and by partnering with Lightsmith’s global network of companies and governments. Lightsmith Climate Resilience is focusing on six initial technology areas: water efficiency and smart water management, resilient food systems, agricultural analytics, geospatial intelligence, supply chain analytics, and catastrophe risk modeling and risk transfer. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder. In the Fund, Lightsmith has brought together leading investors from around the world, including PNC Insurance Group, The Rockefeller Foundation, Kinneret Group, and Caprock Impact Partners, as well as the Green Climate Fund (“GCF”), European Investment Bank, Asian Infrastructure Investment Bank, KfW on behalf of the German Ministry for Economic Cooperation and Development (BMZ), Nordic Development Fund, the Government of Luxembourg and other investors.Ī welcome email is on its way. Lightsmith Climate Resilience is the first private equity fund to have focused on climate resilience and adaptation, investing in growth-stage technology companies that address the effects of climate change. NEW YORK - Lightsmith Group (“Lightsmith”), a global sustainable private equity firm, is pleased to announce the final closing of Lightsmith Climate Resilience Partners SCSp RAIF (“Lightsmith Climate Resilience” or the “Fund”) with $186 million of commitments.
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