Tag: IFC

IFC Anchors voestalpine’s First Green Bond Issuance to Propel Steel Sector Decarbonization

Stuart Mitchell

IFC has announced an anchor investment of €75 million in the first green bond issuance by voestalpine AG, a global leader in steel processing and production headquartered in Austria. This landmark investment aims to accelerate the decarbonization of key value chains in the steel sectors of Brazil, Poland, and Romania. Steel is a critical resource for key industries and global economic development, playing a vital role in the green transition of sectors such as transport, manufacturing, and construction. However, the steel industry faces significant decarbonization challenges due to its reliance…

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$8 Trillion Opportunity in Sustainable Cooling Solutions for Developing Economies – IFC and UNEP Report

Stuart Mitchell

The cooling market in developing economies is expected to grow from around USD 300 billion to at least USD 600 billion, per year by 2050, according to a report released by the UN Environment Programme (UNEP)-led Cool Coalition and International Finance Corporation (IFC). The fastest growth in cooling is expected in Africa, which will see the market multiply by a factor of seven, and South Asia, which will quadruple in size. The report calls for prioritising passive, energy-efficient, environmentally friendly, and economically viable cooling solutions. The report, “Cooler Finance: Mobilizing…

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IFC and the Carbon Trust Join Forces to Cut Emissions in Emerging Markets

Stuart Mitchell

In a move to help more companies decarbonize operations and reduce emissions along their supply chains, the International Finance Corporation (IFC), a member of the World Bank Group, and the Carbon Trust have agreed on a plan to work together to promote decarbonization strategies for companies in emerging markets and accelerate investments in green production. The collaboration will provide new opportunities for IFC clients to develop roadmaps for decarbonizing their operations, while providing avenues for expanding the reach of IFC’s sustainable financing to global brands with supply chains in emerging markets.…

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IFC issues 2.6 billion Swedish krona green bond to promote blue finance in emerging markets

Stuart Mitchell

IFC issued a green bond designed to promote ocean-friendly projects and improve access to clean water and sanitation in emerging markets. The five-year, 2.6 billion Swedish krona bond—equivalent to $243 million—is the second green bond that IFC has issued promoting IFC’s blue finance investments, following a 2 billion Norwegian krone green bond, issued in March this year in conjunction with World Water Day. The bond offers investors the opportunity to join in financing IFC investments that support the blue economy and protect clean water resources. It was underwritten by SEB.…

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IFC Unveils a New Initiative to Help Financial Institutions in Europe Manage Climate Risks

Stuart Mitchell

A pioneering initiative that will help equip financial institutions with knowledge, tools, and skills to manage climate-related risks is being launched in Europe by IFC. Climate-related disasters across Europe caused losses of about €650 billion, or around €15.5 billion per year from 1980 to 2022. Losses of financial institutions have also been significant. The World Bank’s global research shows that non-performing loans ratios are estimated to increase by 0.37 percentage points after severe climate and environmental disaster episodes. The region’s projected climate change impacts call for urgent action to improve…

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