Take a look at our eligibility and selection criteria.
CLIMATE MITIGATION FINANCE
Projects to reduce, limit or sequestrate GHG emissions.
Projects to reduce emissions from deforestation and forest degradation and foster sustainable forestry and agriculture.
CLIMATE ADAPTATION FINANCE
Projects to adapt to current and expected effects of Climate Change.
The ICFA is a two-year acceleration program for first/second-time climate finance fund managers.
Are you an emerging fund manager?
- First- or second-time fund manager or fund advisor
- Intention to set up a climate investment vehicle
- Investment vehicle and fund manager / fund advisor must be separate legal entities
Investing in climate finance?
- > 75% of target portfolio in either Climate Change Mitigation, Climate Change Adaptation, or other EU Green Taxonomy pillars
- Inclusion of ESG criteria in the investment process
- ICFA’s exclusion policy applicable to 100% of the investment portfolio
With intention to generate positive impact and minimize negative impact?
- Adoption of sustainable investment strategy, aligned with the EU Green Taxonomy
- Identification of sustainability risks and principal adverse impact, and respect for Do No Significant Harm principle
- Implementation of impact management and measurement methodology and reporting
- Respect of good governance principles
And ready to be accelerated?
- Sound concept supported by an advanced financial model
- Well-developed pipeline and proven experience in transaction closing
- Credible fundraising strategy
Eligible applicants will have the opportunity to enter the selection process.
During the selection process, your proposal and your team will be assessed on various features, including the following, as well as your readiness to be accelerated.
Team track record
- Fund managers or fund advisors raising their first- or second-time climate finance fund
- Track record and investment experience of team and individual members
- Entrepreneurial commitment and agile and innovative
- Skilled and knowledgeable in climate finance
- Capacity to make it happen
- Track records in deal structuring and transaction management
- Local presence and/or support of investees
- Demonstrate ability to make full-time commitment towards launching the fund
- Contribution to the Luxembourg climate finance ecosystem
Credible climate finance investment strategy
- > 75% of target portfolio in either Climate Mitigation, Adaptation or REDD + projects
- Fund concept supported by an advanced financial model
- Credible pipeline targeting positive environment and/or social impact
- Scalable and replicable investment strategy
- Double / triple bottom-line investment strategy
- Application of risk diversification criteria
Means to generate positive impact
- Inclusion of ESG criteria in the investment process
- Exclusion policy applicable to 100% of the investment portfolio
- Credible impact management and measurement methodology
- Advanced reporting framework, including definitions of KPIs
- Respect of good governance principle
- Commitment to creating long-lasting impacts
- Extra-financial support to investees
- Credible fundraising strategy and access to target investors
- Global and domestic networking channels and capabilities
- Ability to communicate and convince investors
- Commitment, persistence and resources to complete the fundraising process
The ICFA has appointed an independent Selection Committee, which uses its in-depth expertise in environmental, climate change and impact finance in order to propose a balanced selection of innovative and promising fund managers.
Before joining LuxDev, he worked for PwC, EY, the Delegation of the European Union to Lao PDR, and the UN World Food Programme in the Climate and Disaster Risk Reduction unit. He is an alumnus of the TU Bergakademie Freiberg and holds a MSc in earth system science and multilingual in English, French, German, and Luxembourgish.
He is a member of the advisory councils for the OECD Centre for Green Finance and Investment and also the Climate Bond Initiative. He has served on the Supervisory Boards and Advisory Committees of numerous clean energy, environmental, infrastructure and carbon funds, and continues in this capacity as an Independent Director of fund vehicles.
She brings a wealth of experience in impact investing, project development and fund management in Emerging Markets covering themes as financial inclusion, energy and climate, water, agri-food, health and sustainable infrastructure. Prior to joining Invest International, she worked at Triodos Investment Management and FMO, where she held several (fund) management positions and set up the Triodos Microfinance Fund. During her career she also served as a Non- Executive Director on the boards of a number of Microfinance and SME banks in South East Asia.
Previously Gregory worked in Private Equity at Societe Generale Asset Management and in Mergers & Acquisitions at Andersen Corporate Finance. He has a 15 years background of deals in France, Benelux, Switzerland, England and in the United States.
Moreover, Gregory has been responsible for 2 years of the Environment sector at the French Ministry of Economy in Thailand.
Prior to joining Luxembourg’s Environment Ministry in 2014, Jimmy was involved in financial services in the tax department of KPMG Luxembourg. He holds MSc in economics and finance.
Previously, Stephan ran his own sustainable advisory and investment boutique SANZARU, while also part of the TIIME.org team, advocating and educating decision makers to boost awareness of impact investing, sustainability and diversity. Prior, Stephan accumulated experience in private equity, corporate finance and strategy consulting across Europe, Africa, the Middle East and Asia with blue-chip names like Oliver Wyman, Credit Suisse, and Delta Partners.
Stephan earned an MBA at the prestigious business school INSEAD with locations in Europe, Asia, the Middle East, and North America. He earned and a MSc in Aerospace Engineering (cum laude) from Delft University of Technology in the Netherlands. Stephan is also a CFA Charterholder from the CFA Institute.