Credit: ICFA
The Luxembourg-based International Climate Finance Accelerator (ICFA) recently announced its new cohort composed of five first- and second- time fund managers focused on addressing climate change head on.
According to the ICFA, this was the most competitive cohort since its inception in 2018, with 66 applications received this year. The 2024 cohort members have developed innovative solutions in a diverse array of activities such as agri-SME finance, circular and resilient food systems, biodiversity and sustainable resource management, blue economy and clean energy, among others.
ICFA 2024 Cohort:
- Agri Frontier supports the growth of agricultural small- and medium-sized enterprises (agri-SMEs) across East and West Africa by offering investment together with capacity building support via its Agri Growth Hub accelerator. It helps address the "missing middle" while also driving action on gender equity and climate mitigation, adaptation and resilience. Its vision is to build a sustainable, inclusive and productive agriculture sector in Sub-Saharan Africa;
- Big Valley GmbH is an investment advisory firm backing solutions to accelerate the transition to a more sustainable and inclusive global food system. Big Valley invests predominantly in circular business models and carbon removal technologies and practices that not only tackle climate change mitigation, but also support climate resilience for smallholder farmers in developing countries;
- Miarakap deploys innovative financial mechanisms to reduce pressure on biodiversity and foster climate resilience in Madagascar and the least developed countries in the Southwest Indian Ocean by supporting the next generation of entrepreneurs dedicated to sustainable resource management, innovative climate solutions and community development;
- Outrigger Impact is a blue economy impact solution that provides capital and capacity to projects in Small Island Developing States (SIDS). The blended finance solution Outrigger has developed addresses the unique climate, environmental, social and economic challenges that SIDS face by identifying successful business models, transferring expertise and aggregating projects to scale them up and crowd in additional private capital;
- Scalar International exists to unlock institutional funding to support the emergence of first-tier, Indigenous and women-owned businesses that contribute towards a sustainable and inclusive future through clean energy and digital technologies. It encourages the financial sector to participate in decarbonisation strategies and digital transformation that leads to accomplishing the UN Sustainable Development Goals (SDGs).
The ICFA supports emerging fund managers focused on climate action in developing the climate finance leaders of tomorrow. Each year, it selects a cohort of fund managers who benefit from financial and technical support.
Recently, the Luxembourg government announced the launch of a new programme: the International Social Finance Accelerator (ISFA). The new combined accelerator will operate both the ICFA and ISFA brands.
