South Asia Growth Fund (SAGF IV)
Introduction
Swedfund invests USD 35 million in South Asia Growth Fund IV (SAGF IV).
Read more in our press release: Swedfund invests USD 35 million to accelerate climate action and resilience in India
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Gender Equality
Achieve gender equality and empower all women and girls.
Climate Action
Take urgent action to combat climate change and its impacts.
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
The investment is expected to contribute to climate change mitigation and adaptation in India by supporting growth-stage businesses that provide low-carbon, resource-efficient and climate-resilient products and services. The fund will invest in sectors such as energy transition, industrial decarbonisation, sustainable agriculture and green buildings. By scaling climate solutions, the investment is expected to contribute to avoided emissions, strengthened climate resilience and green job creation, as well as long-term climate value creation and sector development.
Additionality
Swedfund’s investment is value additional through active ownership and engagement on impact, climate and ESG governance. Through its role in fund governance and potential technical assistance support, Swedfund will contribute to strengthening impact measurement and gender equality initiatives, as well as enhancing climate outcomes and long-term value creation across the portfolio.
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 Risk (Fund B) based on potential E&S risks, contextual risks and the investment mandate.
ESG Mitigation Measures
Swedfund is supporting the Fund Manager in further strengthening its climate work across the portfolio by developing a greenhouse gas inventory and procedures for annual greenhouse gas reporting.
Applicable IFC Performance Standards
At the Fund Manager level, IFC Performance Standards 1–3 are applicable. At the project level, IFC Performance Standards 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.
Other investments within
Energy & Climate