The National Bank for Economic and Social Development (BNDES), through its investment arm BNDESPAR, has approved the contracting of the FIP GEF Climate Solutions Fund, with the aim of investing in companies committed to energy efficiency. BNDESPAR will have a 15% stake in the Fund, valued at around 30 million dollars.

The Fund’s investment policy is aligned with the fulfillment of the Sustainable Development Goals (SDGs), in particular with Goal Nº 13, related with Action against Global Climate Change and its Impacts, and with the Framework Convention of the United Nations on Climate Change (UNFCCC).

The Fund is managed by São Paulo-based GEF Brasil Investimentos, which is linked to GEF Capital Partners, a global private equity management firm focused on climate solutions that also operates in the United States and India.