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- ASF is first anchored fund of the Small Industries Development Bank of India (SIDBI).
- ASF is a venture Capital fund
- Aim: To invest in early-stage climate technology companies
- Project Value: $120 million
- ASF's strategies include:
- Investing in low-carbon and climate-resilient businesses,
- Adding value for climate and sustainability leaders etc.
- About GCF
- It is the world’s largest dedicated climate fund.
- Established under the Cancún Agreements in 2010.
- Mandate is to foster a paradigm shift towards low emission, climate-resilient development pathways in developing countries.
- Operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC).
- It is accountable to the United Nations.
- Secretariat is located in Incheon- South Korea.
- Key features
- Country-driven approach i.e., developing countries lead GCF programming and implementation.
- Balanced allocation i.e., GCF is mandated to invest 50% of its resources to mitigation and 50% to adaptation in grant equivalent.
- Provide financial support through flexible combination of grant, concessional debt, guarantees or equity instrument.
Other important Funds for Climate Finance:
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