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This site is solely intended to provide information on the Emerging Markets Climate Action Fund, managed by Allianz Global Investors GmbH and advised by the European Investment Bank (EIB), for potential target funds and for general information purposes. The information presented on this site is not intended for potential investors. The Emerging Markets Climate Action Fund is closed, and therefore not open for new investors or available to new investments or subscriptions. The information presented on the following webpages does not constitute an offer to sell or subscribe to a financial instrument.
The information and opinions expressed on this site are subject to change and may be modified at any time and without prior warning.
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Emerging Market Climate Action Fund (EMCAF) is an innovative blended finance Fund of Funds created in partnership by Allianz Global Investors (AllianzGI) and the European Investment Bank (EIB). The Fund provides highly catalytic early-stage equity financing to greenfield climate mitigation and adaptation projects in emerging and developing markets by backing fund managers and project developers active in this area. The Fund will create a long-lasting tangible impact by building up real assets on the ground as well as fuelling private market ecosystems that will sustain a low carbon economy over the long-term, allowing the target countries to become energy independent and resilient.
EMCAF brings together public and private sectors in pursuit of a common goal - to channel investment into emerging and developing countries to accelerate climate transition, facilitate their energy independence and meaningfully narrow the infrastructure investment gap at scale.
Moving away from fossil fuel dependency
Climate change is putting our world under pressure. Our activities to date have caused an estimated 1°C of global warming and, at the current rate of emissions, it is estimated that the world will warm on average by about 3.5°C to 4°C by the end of the 21st century.
Emerging and developing economies face an almost impossible challenge. They require a large and stable supply of energy to further fuel their economic growth and development, while at the same time reducing their reliance on fossil fuels.
By enabling the switch to renewable energy sources and efficient solutions, emerging and developing markets can by-pass the fossil fuel dependent route that developed economies have already taken, providing a more diversified and cleaner energy mix for growing populations and economies.
EMCAF targets two key investment areas
Renewable energy and energy efficiency sectors represent a substantial majority of our investments with additional investment in related climate mitigation and adaption areas such as e.g. sustainable transport, forestry, rehabilitation/restoration of degraded land water supply and waste water, and the circular economy.
How do private investors benefit?
Attractive returns and positive outcomes are not necessarily mutually exclusive. Scarce public financing resources need to be complemented with private capital to fill the funding gap. EMCAF’s private investors can be part of the growing global commitment to clean energy, reducing risks to supply chains, preserving access to natural resources, and sharing responsibility for a more sustainable future.
Helping to create a more sustainable future
Climate Impact Lighthouse Initiative
EMCAF is a large ‘lighthouse impact initiative’. It will mobilise up to EUR 10bn to fill in the climate finance gap in emerging and developing markets. It will catalyse around 9-10 GW of clean energy capacity. The fund will comply with EIB’s Environmental & Social (“E&S”) standards.
Conference of Parties (COP)
The 21st UN Conference of Parties COP 21 created a multilateral agreement, known as the Paris Agreement, with the goal of limiting global warming to below 2°C compared to pre-industrial levels. More recently, COP 26, held in 2021, concluded the Glasgow Climate Pact building on the work achieved at COP 21. By providing financing to climate transition, EMCAF will directly contribute to the Paris Climate Goals.
UN Sustainable Development Goals
The UN SDGs comprise of 17 goals and 169 underlying targets calling for collective action to achieve a better and more sustainable future for all. Achieving the environmental targets will be crucial to the success of the goals. As a public-private partnership, EMCAF contributes to the fight against climate change by targeting investments that align with the climate related SDGs:
The Fund’s strategy is underpinned by a triple bottom line approach of “People, Planet, Prosperity”. Due to the fundamental commitment to financial, environmental and social sustainability principles that are mutually reinforcing, EMCAF’s investments will accelerate achievement of at least additional six SDGs beyond the four primary focus SDGs.
COP27: EIB Global and AllianzGI announce $100 million for renewable energy projects
EMCAF invests $25 million and EIB Global invests $75 million in Alcazar Energy Partners II. The fund will finance renewable energy projects in the Middle East, North Africa, Eastern Europe and Central Asia.
G7 endorses joint EIB and AllianzGI initiative financing climate projects in emerging economies
During its summit in Elmau (Germany), the Group of Seven (G7) endorsed the strategy Emerging Market Climate Action (EMCA) as an example of a concrete innovative and market-led approach to mobilise private investments for climate relevant infrastructure and to enhance multilateral finance and collaboration. In addition, Germany announced to increase their investment in the vehicle.
AllianzGI creates unit dedicated to private markets impact investments
Latest evolution unlocks full potential of AllianzGI’s impact investing and private markets expertise. New Impact Measurement & Management team will underpin the company’s private equity and debt investing franchise. Unit to be led by Matt Christensen, Global Head of Sustainable and Impact investing.
EIB and AllianzGI support climate action projects in emerging and developing countries
The EIB and AllianzGI launched the Emerging Market Climate Action strategy (EMCA) in a public-private partnership, with the Governments of Germany and Luxembourg, the Nordic Development Fund, Allianz, Folksam and EIB being anchor investors.
A collaboration between two global leaders, Allianz Global Investors and the European Investment Bank, who are committed to tackling climate change and working towards a greener more sustainable future for all.
In cooperation with our partners
Website for the Emerging Markets Climate Action Fund, an initiative together with the European Investment Bank. The fund is approved by the BaFin, but we do not seek external investors for this fund. The website is for image and information purposes only, specifically for certain persons having professional investment experience or potential target funds .
Multi-Asset private impact investments are highly illiquid and designed for professional investors pursuing a long-term investment strategy only.
This document does not constitute an offer to sell or a solicitation of an offer to buy interests in any strategy or investment product sponsored or managed by Allianz Global Investors, but is only intended to provide general information about the strategy and may not be relied upon in connection with any offer or sale of securities.
The views and opinions expressed herein, which are subject to change without notice, are the views and opinions of the issuer and / or affiliates at the time of publication. The data used come from various sources and are believed to be correct and reliable. The terms and conditions of all underlying offers or contracts that have been or will be made or concluded take precedence. This document does not contain any statements about the suitability of the investments described here for the individual circumstances of a recipient. This is a marketing communication issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de). Allianz Global Investors GmbH has established branches in the United Kingdom, France, Italy, Spain, Luxembourg, Sweden, Belgium and the Netherlands. Contact details and information on the local regulation are available here (www.allianzgi.com/Info). The duplication, publication, or transmission of the contents, irrespective of the form, is not permitted; except for the case of explicit permission by Allianz Global Investors GmbH.