Breaking News

25 new Covid cases on 20 Jan. brings total to 1,287: 34 hospitalised: 19 resident + 8 in ICU: 4 resident, 142 home monitored, 1,058 recoveries, 9 deaths

Major step in green tech fund creation

Major step in green tech fund creation

By Cassandra Tanti - December 4, 2019

Chinese Academy of Sciences Holdings Co., Ltd. and Innovator Capital Limited have signed a Cooperation Agreement, marking the next step in the process of setting up their joint venture. The JV, with Innovator Capital’s Sustainable Finance & Investment Corporation, will comprise a green technologies innovation fund and a transfer platform.

The fund, which was first announced at this year at Innovator Capital’s CleanEquity Monaco annual conference, in the presence of Prince Albert II of Monaco, is being set up specifically to enable sovereigns to fulfil their obligations under Article 10 of the Paris Climate Accord. Supporting innovation of technologies that can combat the causes and effects of climate change is now a critical, unsatisfied requirement.

The agreement paves the way for the immediate creation of a Reserved Alternative Investment Fund (RAIF) in Luxembourg. The RAIF will have several sub-funds, which are designed to accommodate the needs of all interested investors. Technology innovation that addresses health will be a focus alongside sustainable technologies; in effect addressing the United Nations Sustainable Development Goals.

The event, hosted by Innovator Capital and held at the Shelboune Hotel in Dublin, was one of the opening sessions of the China Entrepreneurs Club’s Irish tour. The club is chaired by Jack Ma, founder of Alibaba Group.

“I am delighted that progress is being made on this essential project,” said Dr. WU Lebin, Chairman of the China Academy of Sciences Green Investment Company. “We welcome other investors to join with us on our mission to accelerate innovation.”

The Chinese Academy of Sciences, founded in 1949, is a Chinese research institute. It has historical origins in the Academia Sinica during the Republican era and formerly also known by that name, is the national academy for the natural sciences of the People’s Republic of China.

“We hope that 4th November will continue to be a memorable date, today is the third anniversary of the date which the Paris Climate Accord went effective,” said Mungo Park, Chairman of Innovator Capital. “The agreement Dr. WU Lebin and I have signed demonstrates China’s commitment to supporting technology innovation, sharing and transfer. Our role is to ensure that these technologies reach those that need them as fast as possible.”

Innovator Capital Limited (ICL), established in 2003, is a London based specialist investment bank focusing on health and sustainable technology companies; advising on corporate finance, mergers and acquisitions, IP, business and corporate development.

 

 

shares
SHARE
Previous articleMonaco annual Ecumenical Kermesse returns
Next articleBidding for Russian masterpieces in Monaco

daily

January 21, 2021 | Business & Finance

Monaco-ville ‘villa’ sells for €75 million

Stephanie Horsman

Villa Unda Maris, situated just metres from the Oceanographic Museum on the Rock, has gone under the gavel and achieved an eye-watering sale price of €75,300,000.

0
January 15, 2021 | Business & Finance

What will the EU’s recovery look like?

Stephanie Horsman

The European Union is about to roll out its biggest stimulus package ever seen as focus turns from Covid testing and vaccination to economic recovery.

0
January 14, 2021 | Business & Finance

How many workers in Monaco are female?

Stephanie Horsman

Women made up 41% of the workforce in large companies in 2019 and the majority were French. These are just some of the findings to come out of the latest report by IMSEE.

0
January 14, 2021 | Business & Finance

Sportel cancelled

Stephanie Horsman

As a resurgence of the Covid pandemic brings continued uncertainty for the coming months, organisers of Sportel Winter have given up trying to pursue their February event at the Grimaldi Forum.

0