Established in 2018, the International Climate Finance Accelerator (ICFA, rebranded “Accelerating Impact”) is a public-private partnership set up by twelve private entities of the Luxembourg financial sector, the Luxembourg Ministry of Finance and the Ministry of the Environment, Climate and Biodiversity.
The programme recently open its commitment to social impact finance which has been further strengthened with the Ministry of Foreign and European Affairs, Defence, Development Cooperation, and Foreign Trade joining the partnership. This expansion enhances its focus on economic development to promote sustainable economic growth, reduce poverty, and improve living standards in the least developed countries.
In the context of this expansion, to operate both the climate and social acceleration programmes, the initiative was restructured, remodelling the existing non-profit organisation (ASBL) and the operational limited liability company (S.à r.l.) and rebranding the entities as “Accelerating Impact”. In addition, the operation company, Accelerating Impact Finance Luxembourg SARL was accredited as ‘societal impact corporation’ (société d’impact sociétale or SIS), enhancing the societal impact purpose of the programme.
A CMS team led by Investment Funds partner, Aurélien Hollard and ESG specialist Julie Pelcé, advised the ICFA on all legal and aspects the restructuring of the existing entities and the licensing as a societal impact corporation (société d’impact societal).
They were closely supported by partner Pawel Hermelinski, senior associate Angélique Eguether, and associate Julie Butlingaire (all corporate); partner Frédéric Feyten, senior associate Lauriane Susan and managing associate Sarah Lemaire (all tax); partner Hugo Arellano and senior associate Leslie Ledrich (both employment).
