IPEF to organise clean economy investor forum in Singapore in June
New Delhi, Apr 9, 2024
The 14-member Indo-Pacific Economic Framework (IPEF) bloc will organise an investor forum meet in Singapore on June 5-6, where domestic climate tech entrepreneurs and companies will showcase and pitch their products to global investors, the government said Tuesday.
The commerce and industry ministry has invited applications from domestic climate tech entrepreneurs and companies to participate in the meeting.
“The top 100 companies will be announced in early May 2024 and shortlisted companies would be invited to showcase and pitch at the investor forum in Singapore,” the ministry said in a statement.
The IPEF has 14 countries including India, Australia, the US, Japan, Fiji, South Korea, New Zealand, Singapore and Thailand, representing 40% of global gross domestic product and 28% of the global trade in goods and services. The IPEF is structured around four pillars relating to trade, supply chains, clean economy and fair economy (issues such as tax and anti-corruption). India has joined all the pillars except the trade one.
The IPEF Clean Economy Investor Forum is one of the initiatives under the framework. It brings together the region’s top investors, philanthropists, financial institutions, innovative companies, startups and entrepreneurs and aims to mobilize investments into sustainable infrastructure, climate technology and renewable energy projects.
The forum will have opportunities for the Indian industry in two tracks - climate and infrastructure.
Under the climate tech track, the forum is holding an open call that aims to recognise the top climate tech companies and startups among the member countries and present them to global investors.
Similarly, under the infrastructure track, India will showcase selected investible sustainable infrastructure projects at the 2024 forum.
As per the statement, energy transition (example electric grid; renewable energy, including solar, and onshore wind; sustainable aviation fuel; battery storage; hydrogen; green data centers), transport and logistics (example Electric Vehicle, EV charging points), waste management/waste to energy are the focus sectors.
The projects that are ready, or expected to be ready, for private investment during the next 18 months will be given priority for showcasing at the forum.
The eligibility criteria for climate tech firms to apply include having headquartered or have a significant focus or level of operations in an IPEF member country; companies must be founded in or after 2010. Companies will be evaluated on five key criteria for inclusion in the Indo-Pacific Climate Tech 100. Firms with the highest ratings will be included in the final 100.
[The Economic Times]
