Tag: IFC

IFC Issues $1.5 Billion Social Bond to Support Low Income Communities in Emerging Markets

Stuart Mitchell

IFC issued a three-year social bond, raising $1.5 billion to support low-income communities in emerging markets. The transaction represents IFC’s largest ever social bond, with its largest ever order book. It is also the largest US dollar social bond issued by a supranational this year. This is IFC’s first US dollar denominated social bond benchmark in 2023, complementing the organization’s Canadian dollar and Australian dollar social bond benchmarks issued earlier this year.  “We are seeing tremendous demand from investors for our social bonds. With order books of over $6 billion,…

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IFC, T. Rowe Price to Create First Blue Bond Strategy to Support the Sustainable Blue Economy across Emerging Markets

Stuart Mitchell

IFC, a member of the World Bank Group, and T. Rowe Price today announced plans to create a pioneering global blue bond strategy to increase access to finance for blue projects in emerging markets and help improve market standards for the nascent blue bond market. The proposed T. Rowe Price Emerging Markets Blue Economy Bond Strategy (T. Rowe Price Blue) is expected to mobilize international capital from eligible investors to support blue-labeled investments in emerging markets globally through blue bonds issued by financial institutions and real sector companies.  “The investor…

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IFC Announces Support for UNEP-GlobalABC Buildings Breakthrough Target

Stuart Mitchell

 IFC announced its support of the Buildings Breakthrough Target (BBT), an initiative co-led by the Government of France (Ministry for Ecological Transition and Territorial Cohesion) and the Kingdom of Morocco (Ministry of National Territory Planning, Land Planning, Housing and City Policy), and coordinated under the umbrella of the UNEP-hosted Global Alliance for Buildings and Construction (GlobalABC). IFC will become the first private sector-focused development financial institution globally to endorse the Buildings Breakthrough Target via its two climate innovations: EDGE (“Excellence in Design for Greater Efficiencies”) Green Building market transformation program and…

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IFC and Green Climate Fund to Partner on Green Hydrogen Investment

Stuart Mitchell

The Green Climate Fund (GCF) and IFC are collaborating on a proposed investment that will increase the resilience of the energy grid in Barbados, particularly during extreme rains, tropical storms, or hurricanes. At its board meeting this week, GCF approved the provision of up to $41 million in blended concessional financing to support IFC’s proposed investment in RenewStable Barbados, a 50 MW solar generation facility with green hydrogen and lithium-ion battery storage that will provide clean and stable electricity to the Barbadian grid. RenewStable Barbados will represent the first time…

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COP28 Business & Philanthropy Climate Forum unveils key Partners, uniting to drive global climate action

Stuart Mitchell

The inaugural COP28 Business & Philanthropy Climate Forum, hosted by the COP28 Presidency on 1 and 2 December 2023 in parallel with the world leaders World Climate Action Summit, has announced key partnerships with leading global organizations, joining forces to drive global climate and nature action.  The Forum will convene 500 business and philanthropy leaders alongside policymakers to accelerate solutions and drive bolder results. This first of a kind multi-stakeholder engagement strategy for climate and nature is driven by the UAE’s ambition to host an inclusive climate conference that marshals…

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