Supporting Climate Finance in Mauritius
Based on our experience as Verification Consultant for the SUNREF III program de 2021 à 2025, Phoenix has returned to Mauritius in December 2025 to support the State Bank of Mauritius (SBM) in developing financial instruments for climate-related investments.
This mission is part of the “Transforming Financial Systems for Climate” (TFSC) program, co-financed by the French Development Agency (AFD) and the Green Climate Fund.
It aims to strengthen financing for public and private investments contributing to the ecological transition, particularly in the areas of:
- renewable energy,
- energy efficiency,
- sustainable water management,
- sustainable agriculture,
- low-carbon technologies.
In Mauritius, a €45 million credit line has been implemented by the SBM to finance these investments.
Phoenix acts as a Verification Consultant for SBM, with the primary mission of verifying the compliance of projects financed by the credit line with the defined criteria.
Our mission consists of:
- analyzing the investment projects proposed by SBM and verifying their technical, financial, and environmental eligibility,
- confirming their contribution to climate objectives, particularly in terms of reducing greenhouse gas emissions or strengthening climate resilience,
- conducting on-site verification missions to ensure that investments are effectively implemented as planned,
- contributing to the monitoring and reporting of investments made under the program.
To date, two projects for the construction of solar PV power plants combined with battery energy storage systems (BESS) have been verified. Other projects, particularly in green mobility, will be reviewed soon.
The verification reports prepared by Phoenix are an essential step in justifying the use of the credit line funds and ensuring the integrity of the program.
