Skip to content
Supporting institution


Information presented in this profile is for reference only. The Initiative, its Supporting Institutions and the Secretariat do not endorse the activities, tools or reports included in this profile

Last updated: November 2021


Overview of climate mainstreaming approach and goals:

STOA was established in 2017 by the Agence Française de Développement (AFD) and the Caisse des Dépots et Consignation (CDC) to support sustainable infrastructure and energy projects in developing and emerging countries through equity investment.  STOA inherited from its two shareholders’ ambitious vision on mainstreaming climate change in their strategy and operations. STOA’s objective is to catalyze private investment in sustainable infrastructure, especially in Africa, with a specific focus on fighting climate change.

One of our main objectives is to allocate a specific part of our investments to projects with inherent climate benefits. The target was initially set at 30% of the funds invested, was raised to 50% since 2020 as STOA is increasing its commitment towards fighting climate change. Our current portfolio is well above this target as we invested 74% of our funds in projects with inherent climate benefits, equivalent to 201 Million euro. Total cost of these projects is 4,47 bn euro, illustrating the leverage effect of STOA’s equity investment.

STOA also committed to build a “Paris Agreement aligned” portfolio. This goal is today achieved, notably thanks to the exclusion of high-emission projects incompatible with the Paris agreement, and of projects related to coal-based and oil and gas energy solutions. Thus, we promote low-carbon trajectories, by financing projects that contribute to a decarbonized development.

Today, our portfolio climate performance (assessed with the % of inherent climate benefits projects) is essentially linked to mitigation, but we are also working on adaptation to climate change through vulnerability analysis of our infrastructure and the implementation of a specific strategy for these issues.

Operationally, these objectives are incorporated in our climate procedure, presented in the “Case study” section. The latter is subject to amendments, to ensure its evolution regarding scientific knowledge progress and institutional perspectives.

STOA’s Climate strategy is part of a larger framework of commitments, covering impact (Accessibility, Functionality, and Cleanness) and ESG risks.

Principal Strategic Documents:

Principal Tools and Methodologies:

Key reports and other materials published by the institution: