Emerging Markets Infra structure Debt Fund (EMID)
Introduction
Swedfund has agreed to invest MUSD 40 in the Emerging Markets Infrastructure Debt Fund (EMID), which is managed by Ninety One.
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Climate Action
Take urgent action to combat climate change and its impacts.
Reduced Inequalities
Reduce inequality within and among countries.
Sector
Energy & Climate
Within the Energy & Climate sector, Swedfund only invests in renewable energy sources. The expansion of sustainable energy supplies requires a broad approach and innovative solutions.
Value creation
Impact
Swedfund's investment help bridging financing gaps to support infrastructural development or improvement, contributing to climate action, sustainable and resilient development in emerging markets. Furthermore, there is opportunity for the investment to contribute to reduced inequalities by enhancing access and supporting economic activity, including via a sub-focus on digital infrastructure.
Additionality
Swedfund’s investment is financially additional by providing long term capital in markets where access to infrastructure financing is constrained. As an early investor, Swedfund plays a catalytic role in mobilising additional capital to the fund. Swedfund is also value additional through active engagement on ESG and impact priorities.
ESG
Requirements
In line with Swedfund’s Policy for Sustainable Development, the portfolio company is required to materially comply with, inter alia: (i) all internationally recognised human rights (ii) the EDFI harmonized exclusion list and EDFI Fossil Fuel Exclusion List, (iii) local environmental, health & safety and labour laws and regulations, (iv) applicable IFC Performance Standards, (v) the ILO’s Declaration on Fundamental Principles and Rights at Work and the ILO’s Basic Terms and Conditions of Employment.
ESG Risk
E&S risk categorisation is Medium-High Risk (Fund B+) based on potential E&S risks and impacts inherent to the pipeline projects, contextual risks in the Fund’s geographical and sectoral focus, and investment mandate.
ESG Mitigation Measures
Swedfund is supporting the fund to further develop its environmental and social management systems (ESMS) to address issues related to sustainability processes and widen coverage of applicable E&S reference frameworks for use. We are also working with the fund to further strengthen their Business Integrity Management System (BIMS).
Applicable IFC Performance Standards
IFC Performance Standards (PS) 1-4 are applicable.
Whistleblowing channels and Grievance Mechanism
Swedfund’s whistleblowing services can be used by employees, contractors and others at Swedfund, and by the companies and funds in which Swedfund invests. The complaints mechanism can be used for all types of complaints concerning Swedfund and Swedfund’s portfolio companies, but not for complaints concerning individuals as a result of restrictions arising from data protection legislation. 🔹 Link in website footer.