Last year, $130 billion was spent on these solutions. Lightsmith has identified 20 market segments where companies have existing technologies, products, and services to manage weather volatility, physical disruption and damage, operational risks, and resource scarcity – the kinds of risks and impacts increased by climate change. Department of Energy during the Obama Administration. Wagle most recently has served in senior management roles in fast growing clean technology companies after a career in investing at VantagePoint Capital Partners and advising the Secretary of Energy on $15 billion of clean energy financing programs at the U.S. Lightsmith co-founder Sanjay Wagle also combines investment experience with government service. government’s $20 billion development finance institution. Koh most recently served as Managing Director at Siguler Guff, a private equity firm with over $10 billion under management, and as the Head of Investment Funds and Chief Investment Strategist at the Overseas Private Investment Corporation, the U.S. After joining The Carlyle Group in the early 1990s, Mr. Lightsmith co-founder Jay Koh combines a career in private equity with experience in government and climate finance. Yet, according to Climate Policy Initiative, less than 16% of public climate finance is currently being directed towards adaptation or resilience.įounded in 2016, Lightsmith pursues investment strategies that generate superior returns for investors by investing in companies that address critical societal needs. The United Nations Environment Programme estimates that the costs of adaptation in developing countries alone could reach $300 billion per year by 2030. The conference, officially referred to as COP 23, is being presided over by the Republic of Fiji.Ĭlimate change is already increasing risks and impacts to all parts of the world economy, particularly in developing countries with less capacity to adapt. The funding was announced at the UN Climate Change Conference 2017 in Bonn, Germany, where nations of the world are meeting to advance the aims and ambitions of the Paris Agreement. The funding will support development and launch of the first private sector investment strategy for climate adaptation and resilience solutions, including in developing countries where the need for adaptation is greatest. Conservation International is the GEF Implementing Agency for this project. Lightsmith Will Use the Funding to Complete Development of and to Launch the First Private Sector Investment Strategy for Climate Adaptation and Resilienceīonn, Germany – November 13, 2017: The Lightsmith Group (Lightsmith), a US-based investment firm, today announced that it is receiving $1.6 million in funding from Nordic Development Fund (NDF) and the Global Environment Facility (GEF). The Lightsmith Group Receives $1.6 Million of Funding from Nordic Development Fund and Global Environment Facility for Climate Resilience Investment Strategy
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