The recently launched Green Outcomes Fund has appointed global corporate services firm Maitland as its corporate trustee and trust administrator.

The R488-million fund was launched in April by the National Treasury’s Jobs Fund and nonprofit organisation GreenCape to help grow “green” small, medium-sized and microenterprises (SMMEs) and the green impact investing market in South Africa.

The fund provides outcomes-based matched funding to local investment funds to support investments into local SMMEs that make a demonstrable contribution to South Africa’s green economy, as well as job and enterprise creation, in priority impact areas.

Maitland will govern the trust and all its assets, liabilities, rights and duties.

“The Green Outcomes Fund strives to maintain best-practice governance and has adopted a robust governance operating model through the establishment of advisory and investment committees.

“External experts serve on these committees, ensuring the fund’s adherence to its mandate and enabling independent decision-making and oversight on funding allocation to recipient funds,” says Maitland Corporate Services MD Willem Badenhorst.

He adds that the timing of the fund’s creation is auspicious, and that investment in activities that contribute to sustainable job creation is now more important than ever, especially at SMME level.

“We chose Maitland to act as corporate trustee based on its deep local and international experience and knowledge in this area, and its demonstrable commitment to best-practice governance,” notes GreenCape representative Megan van Vlaanderen.

She further says the world urgently needs to move towards models where economic growth  is decoupled from the use of natural resources, while supporting climate change mitigation pathways.

“In South Africa, this means investment in businesses that can generate verifiable green outcomes, whilst creating jobs, including in energy, water, waste, infrastructure and land management.”