The goal of the ICCF (Interact Climate Change Facility) is to provide a common financing platform for the EDFI members to promote clean energy and renewable energy projects in OECD DAC countries with a particular focus on CO2 offsetting projects. Given the nature of clean energy projects there is a real need for long-term financing. ICCF provides long-term senior and subordinated loans to climate-friendly projects and/or companies in the private sector.
The following sectors are eligible for co-financing proposals under ICCF:
- Renewable energy (wind, hydro, solar, geothermal, biomass and biofuels)
- Production of components for renewable energy (for example windmill blades, photovoltaic cells or boilers)
- Energy efficiency and alternative energy projects, including waste-to-energy, technology replacement etc.
- Transportation projects contributing to the reduction of CO2 emissions
- Carbon sequestration projects, including reforestation
SIFEM initially committed EUR 5m to ICCF in February 2011. In a first top-up in 2013 SIFEM provided EUR 5m and EUR 7.5m in a second top-up in 2014. For the third top-up SIFEM committed EUR 8m in November 2016.