GGF opens clim@ competition for innovations in climate change mitigation

Businesses or projects that can make a positive difference to the future of environment have through February 16 to apply for clim@ 2020 and compete for a share of EUR 30,000 earmarked for the three grand finalists, the Green for Growth Fund said. The competition will take place on June 2 at the GGF Sustainable Future Forum in Frankfurt and the organizers promised a high-profile audience of hundreds of international investors, financial institutions, advisors and specialists.

Ideas that have the power to mitigate the effects of climate change are eligible for the clim@ contest, according to the propositions. They include resource efficiency, the announcement adds, together with the invitation to businesses and experienced startups on a global scale which have market-ready solutions and are convinced that they can overhaul the conventional methods.

Ideal candidates have a relevant track record, a so-called minimum viable product and initial clients

The propositions should demonstrate a strong positive climate impact, like in the first round. It was held last year, when nearly three hundred applications were received from 80 countries and 15 selected participants attended the GGF SFF event. In 2020, after the pitch by five entrants, the winners will be announced on June 3. Ideal candidates have a relevant track record, a so-called minimum viable product and initial clients, the organization stressed.

The list of finalists is scheduled to be revealed in March, after which they will get professional mentorship, GGF said. Other main themes are renewables, energy efficiency and circular economy. Resource efficiency is centered on waste and water management.

Main themes are renewables, energy efficiency, circular economy and resource efficiency, namely waste and water management

Last time, the most prominent ideas were for recycling livestock waste into fibers, paper, and bioplastics, sustainable packaging from mushrooms and rethinking last-mile urban electromobility. The competition is promoted with tags @ggf_climat and #GGFclimat.

Finance in Motion has launched clim@ on behalf of the GGF Technical Assistance Facility. It is sponsored by the European Commission under the EU4Energy initiative and the German Federal Ministry for Economic Cooperation and Development (BMZ).

GGF provides financing to businesses and households in 19 markets in Southeastern and Eastern Europe, the Middle East and North Africa. It was established ten years ago as a public-private partnership by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). It was later joined by donors, other international financial institutions and institutional private investors, including the International Finance Corporation, Dutch development bank FMO and German ethical bank GLS.