1 Eligible Applicants are unlisted entities, typically young companies with limited resources, that are initiating their first or second institutional vehicle, with the objective to advise and/or manage this vehicle. Managed accounts, SPVs, and pilot vehicles with limited AUM are not considered institutional vehicles. If the Applicant is part of a group of companies, i.e., multiple companies which are directly or indirectly controlled by a controlling entity, eligibility will consider on a group basis. Consortiums of non-eligible entities can be considered eligible if the parties are in process of establishing an eligible entity, subject to the group-level considerations.
The equivalence of regulatory and/or supervisory frameworks of non-EU countries with the EU framework will be assessed premised on the equivalence decisions of the European Commission and the Luxembourg national supervisory authority.
The notion of measurable impact refers to the ability to 1) identify strategic impact objectives, 2) quantify and assess the outcomes using recognized frameworks and methodologies which may include, but not only: the Impact Reporting & Investment Standards + (IRIS+), the Theory of Change, or the Operating Principles for Impact Management (OPIM), and 3) mobilise the necessary resources to implement the impact measurement process.
2 The equivalence of regulatory and/or supervisory frameworks of non-EU countries with the EU framework will be assessed premised on the equivalence decisions of the European Commission and the Luxembourg national supervisory authority.
3 The notion of measurable impact refers to the ability to 1) identify strategic impact objectives, 2) quantify and assess the outcomes using recognized frameworks and methodologies which may include, but not only: the Impact Reporting & Investment Standards + (IRIS+), the Theory of Change, or the Operating Principles for Impact Management (OPIM), and 3) mobilise the necessary resources to implement the impact measurement process.
4 Accelerating Impact operates two programmes, each with its own eligibility criteria governing the activities. For the ISFA Programme: Social impact themes are defined according to the classification defined in the Social Investment Framework by Accelerating Impact and LuxFLAG. Please see https://www.isfa.lu/our-eligible-areas.
For the ICFA Programme: Climate impact themes are defined according to internationally and/or regionally agreed classification systems and taxonomies around climate change mitigation and/or climate change adaptation, including without limitation the MDBs’ Common Principles for Climate Mitigation and Adaptation Finance Tracking. Please see https://www.icfa.lu/our-eligible-areas.
5 Accelerating Impact operates two programmes, each with its own eligibility criteria governing the geography allocation. For the ISFA Programme: 100% of the Fund’s invested capital shall be allocated to investments in countries eligible to receive Official Development Assistance (“ODA”), as defined by the OECD Development Assistance Committee (DAC) List of ODA Recipients, or At least 80% of the Fund’s invested capital shall be allocated to investments in countries eligible to receive Official Development Assistance (“ODA”), as defined by the OECD Development Assistance Committee (DAC) List of ODA Recipients. Any portion of the Fund’s invested capital deployed outside ODA-eligible countries shall be limited in scope and shall be undertaken solely to the extent consistent with the Fund’s development-focused mandate and regional strategy. For the ICFA Programme: at least 70% of the Fund’s Assets Under Management (“AUM”) shall be invested in countries eligible to receive international climate finance, as defined by the Green Climate Fund list of eligible countries. Any portion of the Fund’s investments deployed outside such eligible countries shall be limited in scope and shall remain consistent with the Fund’s climate-focused mandate and investment strategy.