Tag: IFC

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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IFC and Sony Partner to Support Growth of Creative Businesses in Africa

Stuart Mitchell

IFC, a member of the World Bank Group, and Sony Group Corporation, recently announced the signing of a cooperation agreement to identify investment opportunities in companies in the creative industries in Africa in order to support new economic opportunities and create jobs. Under this agreement, IFC and Sony will work together to identify investment opportunities with a particular focus on seed and early-stage start-ups. Priority sectors for cooperation will include film, music, animation studios, post-production services, fashion, sports and technology and platforms supporting the creative ecosystem. This partnership leverages Sony’s…

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IFC Announces Winners of the DRC Agribusiness Innovation Challenge to Support Climate-Smart and Inclusive Agriculture

Stuart Mitchell

Businesses focused on digital technology and circular agriculture were named the winners of the DRC Agribusiness Innovation Challenge, a startup competition managed by IFC to support agri-small businesses and smallholder farmers as well as the development of climate-smart agriculture in the Democratic Republic of Congo (DRC). The three winning companies were selected from a shortlist of 10 businesses that pitched their ideas to a jury of government representatives, members of development organizations, agribusiness investors and venture capital funders in Kinshasa this week, ahead of the DRC Agribusiness Forum taking place…

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