On June 6, 2024, approximately two years after President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity (IPEF), the United States and its 13 IPEF partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Viet Nam – inaugurated the IPEF Clean Economy Investor Forum. The forum aims to catalyze investment in sustainable infrastructure and climate technology projects aligned with strong environmental, social and governance-based (ESG) investing and labor standards. This event is part of a broader financing framework designed to advance the IPEF Clean Economy Agreement.
The inaugural forum resulted in $23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific region. "These announcements symbolize the beginning of what is possible through IPEF," said U.S. Secretary of Commerce Gina Raimondo. "The inaugural Clean Economy Investor Forum is further strengthening U.S. ties in the region... I'm proud by the success of this first event but more so excited by the potential it demonstrates."
The first Clean Economy Investor Forum brought together major investors and innovative project proponents from across the United States and Indo-Pacific region. Participants included IPEF Ministers and government agencies as well as philanthropies, companies, and multilateral development banks. They exchanged market insights and explored business opportunities while establishing a pipeline of investment opportunities.
During the forum, Global Infrastructure Partners, KKR, and other coalition members announced a new initiative to boost infrastructure investment across emerging economies within IPEF countries. Coalition members such as Allied Climate Partners, BlackRock, GIC, Rockefeller Foundation, and Temasek will help identify successful infrastructure projects while coordinating with governments and financial institutions to mitigate investment risks.
Additionally, IPEF Partners along with Private Infrastructure Development Group launched the operational phase of the IPEF Catalytic Capital Fund. This fund provides concessional financing along with technical assistance to expand quality clean economy infrastructure projects in emerging markets within IPEF countries. Initial projects include a renewable energy platform in India and a water treatment plant in Vietnam.
HolonIQ reviewed 10 thousand climate technology companies from IPEF economies before announcing its Indo-Pacific Climate Tech 100 list which includes ten U.S.-based companies like Altana and Antora among others spanning various sectors such as renewables storage distribution biosphere food systems circular economy carbon markets data finance resources built environment mobility
Moreover participating US entities unveiled several commitments at this forum DFCs Board approved an equity investment into Eversource Climate Investment Partners II fund which focuses on innovative solutions addressing climate change within India Southeast Asia covering sectors renewable energy transition electric mobility circular economy water management sustainable food agriculture
