Edelweiss Alternatives launches its first climate fund to combat climate change

The climate fund would offer investors a long-term viable vehicle to participate in the world’s largest market for sustainable energy transition and generate steady returns, the company said

Edelweiss Alternatives said on September 11 that it is launching its first climate fund to combat climate change and foster sustainable development.

The fund would invest in a wide array of climate-related projects ranging from climate mitigation to climate adaptation like renewable energy, transmission infrastructure, EV infrastructure, green infrastructure, water treatment, transport decarbonisation, industrial decarbonisation and any such other related verticals, the company said in a press release.

“Sustainable growth and inclusive energy transition is central to Prime Minister Narendra Modi’s vision for India. This fund will endeavour to support India’s vision towards building a net-zero economy. The launch of Edelweiss Alternatives’ Climate Fund reflects our determination towards building a sustainable future for our citizens, and the rest of the world. This is an investment for our shared planet, and will reinvigorate India’s growth story,” said Chairman Venkat Ramaswamy.

The UNFCCC (United Nations Framework Convention on Climate Change) global stocktake report released on September 8 highlighted the need for accelerated action to scale up climate finance from a wide variety of sources, instruments and channels.

The report added that public finance alone is not sufficient to address the gap between financing needs and current finance flows, particularly in developing countries.

The climate fund by Edelweiss Alternatives would offer the investors a long-term viable investment vehicle to participate in the world’s largest market for sustainable energy transition and generate far more worthwhile and steady returns, the company added.

Edelweiss Alternatives is an existing investor in the renewable power and transmission sectors. The company said that with further investments from its funds, it looks to achieve the generation of over 450 billion units of renewable energy, 450+ million tonnes of CO2 emissions reduction, saving or reuse of over 5,000 million litres of water and creating over 7 million job years.