Green Outcomes Fund Launches in South Africa
GreenCape, the South African ICN cluster, in partnership with SA National Treasurys’ Jobs Fund, has launched the Green Outcomes Fund. This first of its kind structure provides incentives for local South African fund managers to increase investment in green Small, Medium and Micro-sized Enterprises (SMMES).
The world urgently needs to move towards models where economic growth is decoupled from natural resource use, whilst supporting climate change mitigation pathways. In South Africa, this means investment in businesses that can generate verifiable green outcomes, whilst creating jobs, including in energy, water, waste, infrastructure and land management.
Through a partnership officially signed on 31 January 2020 between National Treasury’s Jobs Fund and Green Cape, the Green Outcomes Fund (GOF) provides outcomes-based matched (concessional) funding to local investment funds to support investments into local Small, Medium and Micro-sized Enterprises (SMMES) that make a demonstrable contribution to South Africa’s green economy, as well as job and enterprise creation in priority impact areas. Aligned with the UN’s Sustainable Development Goals (SDGs), this structure mobilises private capital in support of these global goals.
“The Green Outcomes Fund aims to achieve clearly defined green outcomes, encourage greater capital allocation to green businesses by local fund managers, and catalyse increased and higher quality, consistent, reporting of green impacts,” said Megan van Vlaanderen, GreenCape. “GreenCape is the Green Outcomes Fund implementation partner, primarily accountable to the Jobs Fund for delivery and reporting on the green outcomes measurement and evaluation.”
The local catalytic finance partners of the Green Outcomes Fund are: Mergence Investment Managers, Edge Growth Ventures, Conservation International Ventures and Business Partners South Africa. National Treasury’s Jobs Fund partners with innovative, high-impact projects that contribute to accelerated job creation and offer practical and lasting solutions to South Africa’s employment challenges.
The Green Outcomes Fund is the result of a World Bank Climate Technology Program pilot initiated in 2016, with the Bertha Centre, GreenCape and WWF-SA as the main design partners.
If you are interested in being a Grant Funder – PARTNER WITH GOF to support green investment opportunities in Africa.
GOF is available to philanthropic, aid, and development organisations seeking to generate impact in the green economy in Africa. Get in touch and become a part of this unique model to create impact. Email .
Learn more here: https://www.greencape.co.za/content/sector/thegreen-outcomes-fund.