Original disclosure @ FMO website
Updated in EWS Dec 11, 2023
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According to the FMO, BIX provides finance in the value chain upfront in exchange for a preferential claim on the future impact certificate revenue (carbon credits) to redeem the funding.
BIX uses an innovative and catalytic concept that monetizes the impact potential of the products when used on a regular basis at scale. Impacts can be environmental, such as reduced Greenhouse gasses, or even social, such as improved health and education, although methodologies on the latter still need to be further developed. The envisaged split of the BIX portfolio will be at least 70 percent Africa.
As stated by the FMO, Amsterdam-based BIX is a joint Shell Foundation / Cardano Development initiative aiming to increase access to essential household products and services (predominantly cookstoves, bio-digesters and water-purifiers) to the bottom of the pyramid, by providing impact-based pre-finance.
BIX Capital B.V. is managed by FOUNT, a company based in The Netherlands that provides strategic advisory and investment management services.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
Royal Dutch Shell | Parent Company | Energy | owns | Shell Foundation | Parent Company | Energy |
No project contacts provided at the time of disclosure.
FMO South Africa:
Phone: +27 11 507 2500
Email: joburg-office@fmo.nl
Financial Intermediary - BIX Capital B.V.:
Address: Herengracht 201, 1016 BE Amsterdam, The Netherlands
Phone: (+31) 6 22 69 56 20 / (+31) 6 25 25 12 75
Email: info@fount.eu
Website: https://fount.eu/
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.