Annual Performance Report

The KawiSafi Ventures Fund achieved final fund close in October 2018 and expanded its portfolio with a new investment in Redavia, a commercial and industrial solar company. In 2018, portfolio companies in Kenya and Rwanda offset 243,622 tons of climate-warming emissions and impacted 2,962,971 lives. Since its inception, the fund has averted 455,474 tons of emissions and reached 5,539,543 individuals. The fund's impact targets were adjusted following the fund close to 1,011,900 tons of emissions averted and 10,119,000 lives impacted. KawiSafi reports a cost of $66.67 per ton of CO2eq reduced and has leveraged GCF's anchor investment at a 2.3:1 match. The fund also implemented a responsible investing policy and conducted ESG reviews, finding portfolio companies to be at maturity levels 2 to 3 on the ESG scale. Gender-specific outcomes include 49% of impacted lives being women and the training of over 2,800 women in the solar sector.

• In 2018, KawiSafi's portfolio companies in Kenya and Rwanda offset 243,622 tons of climate-warming emissions and impacted 2,962,971 lives. Since the fund's inception, cumulative figures for these two countries are 455,474 tons of emissions averted and 5,539,543 lives impacted.
• Following the final fund close in October 2018, KawiSafi reduced its impact targets proportionately. The new targets are 1,011,900 tons of CO2eq emissions averted and 10,119,000 lives impacted, down from initial estimates of 1,500,000 tons and 15,000,000 lives.
• The fund's financial efficiency is reported as an estimated cost of $66.67 per ton of climate-warming emissions, with the GCF-specific cost estimated at $19.76 per tCO2eq. KawiSafi leveraged the GCF anchor investment at a 2.3:1 match from other investors.
• KawiSafi's portfolio is heavily skewed toward residential use, with 96% of distribution in Kenya and Rwanda being home-based, 4% agribusiness and other, and 0% for schools and healthcare facilities.
• The fund has integrated gender and social metrics, noting that 49% of the lives impacted in Kenya and Rwanda are women and 38% of those impacted live at or below the World Bank poverty line of $3.10 per day.
• KawiSafi established a responsible investing policy and conducted ESG reviews of its portfolio. All portfolio companies were rated between 2 and 3 on the ESG maturity scale, indicating they are aware of ESG risks and have formal commitments and management systems in place.
• The fund's portfolio companies employed 1,818 people globally in 2018, with women making up 29% of the workforce. Additionally, over 2,800 women have received training in the solar sector as technicians, installers, sales agents, and customer care professionals.

APA

Green Climate Fund (2019). Annual Performance Report. https://www.greenclimate.fund/sites/default/files/document/fp005-2018apr.pdf

Chicago

Green Climate Fund. Annual Performance Report. 2019. https://www.greenclimate.fund/sites/default/files/document/fp005-2018apr.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Annual Performance Report |date=30 April 2019 |url=https://www.greenclimate.fund/sites/default/files/document/fp005-2018apr.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2019annual, author = {{Green Climate Fund}}, title = {{Annual Performance Report}}, institution = {Green Climate Fund}, year = {2019}, month = apr, url = {https://www.greenclimate.fund/sites/default/files/document/fp005-2018apr.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }