Deetken Impact announced that the Government of Canada has committed CAD$106 million to the newly launched Inclusive Climate Action Fund, a $300 million blended finance vehicle designed to mobilize climate finance across Latin America and the Caribbean. The commitment significantly expands the Canadian impact investment firm’s leadership in climate finance, as the Fund targets more than $1.2 billion in additional capital mobilization.
The investment was announced during the 30th United Nations Climate Change Conference in Belém, Brazil. The Fund will support companies and projects focused on climate mitigation and adaptation, spanning clean energy, sustainable agriculture, agroforestry, and green finance. It also aims to reduce, avoid, or sequester over 5 million tonnes of CO2 while expanding access to climate solutions for 1 million beneficiaries.
ICAF leverages Deetken Impact’s long-term experience managing impact funds in 17 countries. The structure blends market-rate and concessional capital to deliver financial returns combined with environmental and social impact outcomes. It also includes a technical assistance facility to prepare companies for investment, reduce risk, and strengthen climate and gender equality results.
With teams across six countries and a gender-balanced leadership structure, Deetken Impact is positioning the Fund as a major catalyst for climate solutions in regions facing high climate vulnerability. Canada’s participation is expected to accelerate the Fund’s ability to scale projects and support sustainable economic growth throughout Latin America and the Caribbean.
KEY QUOTES:
“Canada’s commitment to participate in ICAF as a concessional capital provider is a major milestone in our shared ambition to bridge the climate finance gap in Latin America & the Caribbean.”
Alexa Blain, Managing Partner | Deetken Impact
“Our investment in Deetken Impact’s Inclusive Climate Action Fund reflects Canada’s commitment to advancing climate action and inclusive economic growth not only at home, but also in regions where climate risk is highest, like in Latin America and the Caribbean. Canada’s contribution demonstrates our belief that when governments, investors, entrepreneurs, and local communities work together, we can accelerate the transition to a more sustainable, equitable future for all.”
Randeep Sarai, Secretary of State (International Development)
“The Inclusive Climate Action Fund is a compelling opportunity for investors to access attractive investment opportunities in exceptional businesses that are confronting climate change with innovative, market-based solutions. Canada’s commitment to participate in ICAF as a concessional capital provider is a major milestone in our shared ambition to bridge the climate finance gap in Latin America and the Caribbean and support sustainable and climate resilient development across the region.”
Alexa Blain, Co-Founder and Managing Partner | Deetken Impact
