DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions, said Merilin Horats-Beasley, Senior Climate Policy Officer at the European Investment Fund (EIF), Europe’s largest financier of venture capital and private equity.
Speaking to TRENDS during The United Nations Climate Change Conference, COP28 in Dubai this week, Merilin noted that the finance and investment industry is taking the climate position, environmental, and biodiversity challenges very seriously. “We are heading in the right direction,” she said.
Earlier in the week, Merilin participated as a speaker in a panel titled “The VC/LP Perspective on Climate Investing,” which focused on climate-focused venture capital investments. The discussion covered strategies for aligning portfolios with sustainability goals, due diligence for climate VC investments, and enhanced engagement in climate impact investing.
While EIF is not directly involved in the negotiations or discussions on targets and pledges, it is recognized as a key driver of the green transition, holding a mandate for investors in private equity, venture capital, and infrastructure funds that increasingly focus on environmental solutions.
Merilin’s comments come as the EIF made an announcement during COP28 of a €2 billion (US$2.15 billion) mobilization for the green transition. The EIF announced €200 million (US$215.6 million) of new commitments to four equity funds, mobilizing a total of €2 billion (US$2.15 billion) to drive climate action and innovative technology developments across Europe, according to a press statement.
“The funds will focus on promoting regenerative agriculture, investing in renewable energy infrastructure, and developing innovative technologies that support the energy and green transition,” stated the press release.
The EIF is part of the European Investment Bank Group. Its mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees, and microfinance instruments that specifically target this market segment. It also fosters EU objectives in support of innovation, R&D, entrepreneurship, growth, and employment.