Collaborating on a more sustainable future in Asia
22 November 2016
The Sustainable Finance Collective Asia (SFCA) is a first-of-its-kind funding initiative for sustainability projects in the region.
It was launched by ING during the Responsible Business Forum on Sustainable Development in Singapore on 22 November to drive sustainable progress and help empower corporates in Asia to become more sustainable.
The collaborative platform of financial institutions and technical and environmental experts will accelerate access to funding for projects stimulating a circular economy, sustainable energy projects and those making a positive social impact in Asia.
“We want to encourage businesses to become more sustainable and we hope to see applications for game-changing sustainability projects that will have a positive impact in Asia,” said Gerrit Stoelinga, CEO for ING Wholesale Banking Asia.
The financing will be provided by a funding panel that includes ING and partners such as Credit Suisse, FMO and the United Nations Development Program Social Impact Fund.
SFC Asia will also provide support and advice from an expert panel of technical consultants, as well as environmental consultants who have expertise in assessing the environmental and social impact of the projects. These experts can help companies to fine-tune their projects and improve their chances of qualifying for funding from the Collective.
Companies can apply for funding online via the SFCA website. To be considered they must cover one of three sustainability themes: circular economy, sustainable energy or social impact. A minimum funding of USD 15 million is required for the first two categories, while social impact projects require a minimum of USD 5 million.