Tag: Emerging Markets

IFC and The Rockefeller Foundation partner to advance distributed renewable energy solutions in emerging markets

Stuart Mitchell

The International Finance Corporation, the private sector arm of the World Bank Group, and The Rockefeller Foundation (RF) have announced a new partnership that aims to deploy $150 million of RF’s catalytic capital in blended finance to mobilize up to $2 billion of private sector investment in distributed renewable energy solutions. The partnership will prioritize countries in Sub-Saharan Africa and select other regions, where both organizations have identified immediate opportunities. Ultimately, the list of countries where this partnership will deploy will be broadened during implementation. By blending philanthropic and private…

Read More

HSBC Global Asset Mgmt, IFC Fund Raises $474M For Climate Action in Emerging Markets

Stuart Mitchell

HSBC Global Asset Management and IFC, a member of the World Bank Group, have announced the third closing of the HSBC Real Economy Green Investment Opportunity GEM Bond Fund (REGIO), which has raised $474 million of new financing to support climate mitigation investments across emerging markets in spite of prevailing market turmoil. Emerging market countries have been hit by some of the worst impacts of climate change and many are insufficiently equipped to address them. REGIO is designed to attract investments into these economies, enabling their energy transition and helping…

Read More

Sustainable Banking Network Accelerates Expansion of Sustainable Finance in Emerging Markets

Stuart Mitchell

Thirty-eight emerging market economies have initiated key banking reforms to drive development and fight climate change, according to the second Global Progress Report of the IFC-facilitated Sustainable Banking Network (SBN). These reforms require banks to assess, manage, and report on environmental, social and governance (ESG) risks in their lending operations and put market incentives in place for banks to lend to green projects. Of the 38 countries, 22 have adopted national sustainable finance policies and voluntary principles, seven of which were launched in 2019 alone. The report also captures the…

Read More