Following initial scoping work undertaken by the United Nations to identify ways to catalyze green, private-sector investment into climate change adaptation and mitigation in the Asia Pacific region, London Business School graduates Cédric Rimaud, Laura Altinger and Yossef Zahar decided to found Earth Wake.
With decades of experience in areas that include investment, emerging markets, corporate finance and international climate change, the three co-founders went on to create a robust solution to provide climate finance at scale through debt capital markets and technical assistance.
Home to more than 60% of the world’s population, the Asia Pacific region is highly vulnerable to ongoing climate change and related threats that disproportionately affect the poor and exacerbate poverty, such as reduction in crop productivity, destruction of assets, and depletion of natural resources.
Earth Wake’s team has identified an existing gap in knowledge and capacity to provide financial products, processes and technologies to strengthen the resilience of vulnerable people and communities and to help them adapt to climate change.
To address this issue, access to large-scale, dedicated green finance is required, but unfortunately, climate and sustainable finance remains limited especially in lower middle-income countries and least-developed countries of the region.
The required scale and cost efficiencies make debt capital markets the natural financing choice for this challenge. Due to underdeveloped local capital markets and financial service providers’ weak financial standing, we need a pooled approach supported by blended finance and, to maximize impact, implement comprehensive technical assistance for communities, financial service providers, and governments.
Through technical assistance and a well-diversified pooled regional portfolio structure, Earth Wake will aid market creation of inclusive green finance and prepare the financial ecosystem for tapping debt capital markets for climate investments.
Earth Wake is on a mission to provide technical assistance and climate finance through international capital markets to enable vulnerable communities, entrepreneurs, small- and medium-sized enterprises (SMEs) and micro SMEs in developing Asia-Pacific countries to strengthen resilience and adapt to climate change.
Our vision is to have a profound and lasting impact on the Asia Pacific region, transforming communities’, financial market players’ and governments’ understanding of climate change and climate finance, with the aim of transforming behaviors and channeling green finance to benefit people and planet.
At the higher level, this translates into contributing to the global aims of the 2015 Paris Agreement to make finance flows consistent with a pathway towards low GHG emissions and climate-resilient development (Art. 2(c)) and to achieve the Sustainable Development Goals (SDGs).
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