The Lightsmith Group is an investment firm pursuing superior returns by investing in companies that address critical societal needs. For inquiries, please reach out to: THE LIGHTSMITH GROUP The project is led by the Lightsmith Group, with support from the Global Environment Facility, Conservation International, and the Inter-American Development Bank. The project includes the identification of Adaptation SMEs, the development of a comprehensive taxonomy, regional conferences and networking opportunities, and partnerships with existing accelerators. Such adaptation investment will be a key driver of a safer and more sustainable future,” said Carlos Manuel Rodriguez, CEO and Chairperson of the Global Environment Facility.ĪBOUT THE ADAPTATION SME ACCELERATOR PROJECT (ASAP)ĪSAP is a public initiative that seeks to build an ecosystem for early-stage companies in emerging markets that have the technologies, products, and services that can be used to build resilience to the physical impacts of climate change. The GEF supports ASAP’s systemic approach to enabling small and medium sized enterprises in developing countries – particularly in the most vulnerable – in their efforts to increase climate resilience. “Climate adaptation and resilience are critical areas of investment as the world recovers from COVID-19. The program enables experienced accelerators to apply a climate adaptation and resilience lens to existing operations, co-create customized curricula, and facilitate access to climate-focused investor networks. Through its Accelerator Partnership Program, ASAP will serve as a knowledge partner to selected organizations. ASAP will guide selected partners in applying the Adaptations Solution Taxonomy to identify, map, and mentor SMEs, while also providing access to networks of technical experts and investors. The release launches its search for experienced accelerators with established SME networks across Africa, Asia, and Latin America and the Caribbean. The initiative leverages partnerships with innovation labs to equip cohorts of SMEs with tailored support to overcome capacity constraints and scale across markets.ĪSAP announced today that it is accepting proposals in response to its published Request for Applications (RFA). The Accelerator Partnership Program complements the operationalization of the Directory by enlisting existing organizations in building a supportive ecosystem for Adaptation SMEs. The Directory creates a self-sustaining network where small and medium sized companies can submit their information and join a global network of climate resilience solutions”, said Lightsmith Managing Director Jay Koh.ĪSAP recognizes the important role that mentorship, technical assistance, and access to networks play in supporting SMEs. “The ASAP SME Directory provides concrete examples of technologies, products, and services that are already building climate adaptation and resilience in countries around the world across diverse sectors, from food and agriculture, to analytics and risk modeling. The Directory provides a key building block for investors and governments to channel climate financing directly to local enterprises supporting adaptation and resilience. Leveraging the methodology of the first common definition for climate adaptation solutions provided by the private sector, the Directory raises the profile of Adaptation SMEs across Africa, Asia, and Latin America and the Caribbean. The Directory contains over 100 emerging market companies, with an additional 200 under review, and employs the previously published Adaptation Solutions Taxonomy to systematically classify SMEs providing existing technologies, products, and services that support adaptation to climate change (“Adaptation SMEs”). The ASAP SME Directory (“the Directory”) serves as a public platform to underpin the creation of an ecosystem of existing small and medium sized enterprises (“SMEs”) providing solutions and services which enhance climate adaptation and resilience. The virtual session was attended by over 100 public and private sector stakeholders and co-convened by Lightsmith, the Global Adaptation and Resilience Investment working group, the Race to Resilience, and The Resilience Shift. The unveiling was announced at a Finance for Adaptation Solutions & Technologies Roundtable event titled “Accelerating Investment in the Race to Resilience”. NEW YORK, NEW YORK, 22 April 2021 – The Lightsmith Group (“Lightsmith”) today launched the ASAP SME Directory and Accelerator Partnership Program. Adaptation SME Accelerator Project (ASAP) launches a public SME directory and accelerator partnership program to identify, map, and mentor private companies providing solutions that support climate adaptation and resilience
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