WRI’s New Ventures project identifies, mentors, and provides small and medium-sized enterprises (SMEs) with access to investment. New Ventures operates in six of the world’s most vibrant emerging economies – Brazil, China, Colombia, India, Indonesia, and Mexico – where the environment and development decisions being made today will impact the entire world, and where the private sector, particularly SMEs, is driving economic growth.
This year, the full New Ventures portfolio grew to 180 enterprises and facilitated the transfer of $158 million from angel investors, banks, green funds, venture capital funds, and development banks to SMEs that are protecting the environment and delivering economic growth.
One shining example is Beijing Shenwu, a manufacturer of energy efficient industrial furnaces that uses a new recycled combustion air technology to reduce energy consumption by as much as 60% and decrease CO2 emissions by at least 30%. Deployment of the system in the Chinese steel industry has reduced that country’s annual industrial energy consumption by the equivalent of 2.09 million tons of coal, thus cutting CO2 emissions by over 11.72 million metric tons a year. It is a critical feat given that China and the U.S. are the world’s top greenhouse gas emitters.