EverSource is the fund manager of the Green Growth Equity Fund (GGEF or the Fund), established with anchor investment from India’s National Investment and Infrastructure Fund (NIIF) and Foreign, Commonwealth & Development Office (FCDO), Government of UK. The Fund is based in Mumbai (India) and shall invest in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains. EverSource Capital provides global investors an opportunity to invest in the Indian green infrastructure, alongside a global industrial leader and established regional fund manager.
NIIF is India’s first sovereign investment fund, seeking to create long-term value for both domestic and international investors. The fund deploys capital into energy, transportation, housing, water, waste management and other infrastructure-related sectors in India. A joint venture by the Indian government and external investors, the NIIF works closely with policy-makers and central and state government agencies, while the commercial investors promote a professional, principles-led approach to all investments.
The UK government via Foreign, Commonwealth & Development Office (FCDO) has committed to invest £120 million in the GGEF as an anchor investor alongside £120m from India’s National Investment & Infrastructure Fund (NIIF). These anchor investment commitments are intended to catalyse additional finance from the City of London, India and elsewhere for green infrastructure projects in India.
EverSource Capital recognizes that its role as an Investment Manager offers it the opportunity to promote environmental stewardship as well as socially responsible development, while avoiding or minimizing negative impacts on climate, ecosystems and communities. Where these impacts are unavoidable, they should be evaluated in a thoughtful manner with the goal to minimize, mitigate, and/or offset negative impacts. EverSource Capital seeks to ensure that its portfolio companies and projects are managed in a manner consistent with the foregoing, and reflecting sound environmental, social and governance management practices.
EverSource Capital is committed to minimize adverse impacts and promote positive outcomes and has adopted an ESG policy and Management system to govern investments by the fund focusing on:
Click to view/download our second Sustainability Report – 2022
Find out more on our ESG Policy and Management Systems: English हिन्दी
In line with the Fund’s objective, EverSource Capital has articulated the Impact goals aligned to the United Nations Sustainable Development Goals (UNSDGs). An Impact framework has been developed to measure and monitor these impacts. The framework integrates the Fund’s strategy, investment areas for identification of the impact indicators mapped against the identified SDGs. The aim of the proposed indicators and their measurement is to capture the impact from the investments and support contribution towards the identified SDGs.
Find out more on our Impact Strategy here
We believe that Corporate Social Responsibility (“CSR”) is the way through which a company achieves a balance of economic, environmental and social imperatives, while at the same time addresses the expectations of shareholders and stakeholders. We are cognizant of our responsibilities towards building a society which provides equal access to opportunities and negates disparities. The Company is a corporate citizen, with resources at its command and benefits which it derives from operating in society, and therefore it owes a solemn duty to the less fortunate and under-privileged members of the society. The Company will continue to pursue fund and non-fund based activities to discharge its CSR and play the role of a responsible and responsive corporate citizen.