Accreditation assessment of applicant 093 (APL093)

The Green Climate Fund (GCF) Accreditation Panel recommends the accreditation of IL&FS Environmental Infrastructure and Services Limited (IEISL), a private sector entity in India, for 'small' projects with a 'medium risk' environmental and social category. While IEISL demonstrated strong capabilities in project management, environmental and social safeguards, and gender policy, the assessment identified gaps in its basic fiduciary standards, specifically regarding procurement dispute resolution, conflict of interest guidance, and reliance on related-party funding. Accreditation is recommended subject to several conditions, including the recruitment of a gender expert and the update of its prohibited practices policies.

• IEISL is recommended for accreditation for 'small' projects (costs between US$ 10 million and US$ 50 million) and 'micro' projects (up to US$ 10 million), with a maximum environmental and social risk category of 'medium risk' (category B/intermediation 2).
• The applicant has a demonstrated track record in financing renewable energy, energy efficiency, and waste management in India, including a USD 37.5 million project for the Ghazipur Waste to Energy Plant and a USD 50 million Municipal Energy-Efficiency Project in Gujarat.
• IEISL fully meets the GCF specialized fiduciary standard for project management, supported by its experience managing over 14,000 tonnes of solid waste per day across India.
• IEISL partially meets basic fiduciary standards due to gaps in its procurement policy, specifically the lack of a dispute resolution policy and insufficient guidance on conflicts of interest.
• A significant financial risk was identified regarding IEISL's substantial reliance on funding from its parent company, IL&FS, requiring an action plan to reduce this exposure.
• While IEISL's gender policies are consistent with GCF requirements, the entity currently lacks a gender expert on staff, which is a condition for future funding proposals.

APA

Green Climate Fund (n.d.). Accreditation assessment of applicant 093 (APL093). https://www.greenclimate.fund/sites/default/files/decision/b24/decision-b24-11-b24-a18.pdf

Chicago

Green Climate Fund. Accreditation assessment of applicant 093 (APL093). n.d. https://www.greenclimate.fund/sites/default/files/decision/b24/decision-b24-11-b24-a18.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Accreditation assessment of applicant 093 (APL093) |url=https://www.greenclimate.fund/sites/default/files/decision/b24/decision-b24-11-b24-a18.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefundndaccreditation, author = {{Green Climate Fund}}, title = {{Accreditation assessment of applicant 093 (APL093)}}, institution = {Green Climate Fund}, url = {https://www.greenclimate.fund/sites/default/files/decision/b24/decision-b24-11-b24-a18.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }