The Asian Development Bank (ADB) has established a Pilot Asia-Pacific Climate Technology Finance Center (CTFC) that is offering a range of support services available on demand to developing member country (DMC) governments, the private sector, and other stakeholders including venture capital (VC) and private equity (PE) funds, with the view to facilitate investment in climate technologies or cleantech.
The regional technical assistance on “Promotion of Investment in Climate Technology Products through Venture Capital Funds” (RETA 8018) is one of CTFC subprojects. It seeks to accelerate innovation, and the transfer and diffusion of climate change mitigation and adaptation technologies by providing early stage support to VC and PE funds and the companies in which they may seek to invest.
The Climate Group hosted the Global Cleantech Summit (the “Summit”) in March 2016 in Beijing, PRC focusing on key technology areas that could initiate fundamental transformation in China’s energy, industrial and economic development. Successful case studies and insights on the growth of cleantech were shared at the Summit, particularly in light of PRC's 13th Five-Year Plan, and the development and deployment of innovative cleantech across regions, including investment opportunities and challenges, were discussed.
PRC is one of the DMCs where ADB through RETA 8018 aims to provide support. The Global Cleantech Summit and its network of cleantech investors and startup companies is a very good source of information for RETA 8018 to tailor its services to the cleantech sector in PRC. Hence, ADB through RETA 8018 required a Cleantech Investment Survey (the “Survey”) to gather and analyze the current status, challenges, industry perceptions, required support and other relevant information from both investors, startup companies and other stakeholders in the cleantech sector in PRC.