In an ambitious move to propel climate technology forward, the 14-member Indo-Pacific Economic Framework (IPEF) bloc, which includes prominent nations like India and the United States, is set to organize a pivotal investor forum meet in Singapore. This high-profile event, scheduled for the 5th and 6th of June, will provide a unique platform for domestic climate tech entrepreneurs and companies, giving them an unprecedented opportunity to showcase and pitch their pioneering products to an assembly of global investors.
The Indian government, acknowledging the critical juncture of climate challenges and economic opportunities, has opened the door for applications from domestic climate tech entrepreneurs and businesses eager to participate in this significant meeting. The Commerce Ministry, in a recent statement, indicated that the selection of participants will be subjected to the scrutiny and evaluation of a panel comprised of seasoned regional and industry specialists. The last date for these applications has been set as April 26, with the endeavor to finalize the contenders by early May 2024. The top 100 companies will earn the distinguished honor of being announced and subsequently invited to participate in the investor forum in Singapore.
Launched in May 2022, the IPEF is an initiative that unites 14 countries spread across the Asia-Pacific region, including Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States, and Vietnam. This framework serves as a conduit for collaboration with a focus on promoting resilient, sustainable, and inclusive economic growth, while simultaneously contributing to the cooperative fabric, stability, and prosperity of the Indo-Pacific region. It firmly stands on four pillars of cooperation, namely Trade, Supply Chains, Clean Economy, and Fair Economy, integrating various facets of economic interaction.
One of the integral components of this framework is the IPEF Clean Economy Investor Forum, which strives to be a catalyst for investment in sustainable infrastructure, cutting-edge climate technology, and renewable energy projects. This initiative brings together an eminent group of investors, philanthropists, financial institutions, innovative companies, startups, and entrepreneurs. The investor forum aims to spark a surge in investment that adapts to the pressing demands of environmental stewardship.
The Department of Commerce of India stands as the central point of contact for IPEF engagements, and the facilitation of the investor forum is in the capable hands of Invest India, the nation’s investment promotion agency. The forum is not merely a convergence of organizations and ideas but is also a prime opportunity for India to demonstrate its leading position in the Clean Economy sector, offering an array of innovative solutions and large scale infrastructure projects that allure global investors to the vast array of investment opportunities within the country’s borders.
Two distinctive tracks at the forum will lay the path for engagement for the Indian industry – the climate tech track and the infrastructure track. The climate tech track especially presents an open call that aims to honor the top climate tech companies and startups among the IPEF member countries, bringing them into the limelight before a global investor audience. Concurrently, the infrastructure track will highlight selected investible sustainable infrastructure projects that India wishes to showcase at the 2024 forum.
Specific focal sectors such as energy transition, including renewable energy sources like solar and wind, sustainable aviation fuel, battery storage, and hydrogen production, alongside transport and logistics inclusive of Electric Vehicle infrastructure and waste management, will be under the spotlight. Priority will be given to projects that are investment-ready or anticipated to be within the next 18 months, to maximize the prospects showcased at the forum.
Criteria for participation are stringent, geared towards leveraging the immense innovative potential within the IPEF member countries. Climate tech companies applying for this opportunity must have their headquarter or a significant level of operations within an IPEF member country and should have been established on or after the year 2010. Rigorous evaluation on five key criteria will underline the selection process, with the Indo-Pacific Climate Tech 100 embodying firms with the highest ratings, ensuring robust representation from each of the 14 member nations.
As the world grapples with climate change and the need for a sustainable future becomes increasingly urgent, this IPEF investor forum stands as a testament to the collective resolve and cooperative spirit that seeks to harness technology, ingenuity, and investment to shape a more resilient and cleaner tomorrow.
