Global Fund for Coral Reefs Investment Window (GCF-FP180)

Countries
  • Bahamas
  • Belize
  • Brazil
  • Colombia
  • Ecuador
  • Guatemala
  • Jamaica
  • Mexico
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 4, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Pegasus Capital Advisors LP (Pegasus)
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Education and Health
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 125.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Sep 28, 2021

Disclosed by Bank Sep 14, 2021


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Project Description

Fund that seeks to improve the resilience and adaptive capacity of coral reef ecosystems, communities, productive systems and the companies that depend on them. The Fund will invest in companies, projects and / or technologies in the following sectors:

• Sustainable ocean production to address overfishing, destructive fishing techniques and accelerate restoration:
a. Sustainable fisheries (e.g. by-catch reduction, ghost net reduction, follow-up control and surveillance, post-catch processing, supply chain traceability)
b. Sustainable mariculture (e.g. algae farming, fish or shrimp mariculture)
c. Sustainable aquaculture (e.g. shrimp, alternative feed, etc.)
d. Coral farming (for example, artificial reef projects, assisted evolution technology companies, coral farming projects and sexual propagation)


• Ecotourism to address unsustainable tourism and accelerate restoration:
1. Sustainably managed hotel complexes (which may include implementation of coral restoration practices and technologies on surrounding reefs)
2. Tourist activities (surfing, diving, snorkeling, cruises)


• sustainable infrastructure that addresses pollution:
a. plastic waste management (e.g. alternative material, waste collection and sorting, plastic recycling, AI and digital sorting)
b. sewage and wastewater treatment
c. Offshore clean energy
d. Port reception facilities to deal with liquid waste emitted by ships
e. Sustainable agriculture to reduce nutrient runoff (eg use of alternative fertilizers, organic agriculture, precision agriculture, nutrient recycling / capture).
F. Agricultural parks on the island

Investment Description

Contact Information

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PHONE +82 32 4458 6338 (KST)
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