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BlackRock Raises $ 250 Million for Emerging Markets Climate Infrastructure Fund – News

Image source: BlackRock

BlackRock Inc (NYSE: BLK), The world’s largest money management company, Announcement On Thursday, it raised more than $ 250 million for the Climate Finance Fund to help emerging markets in Asia, Africa and Latin America accelerate the transition to a low-carbon, climate-resistant economy. did.

According to a press release, a group of 10 investors will invest in BlackRock’s Climate Finance Partnership (CFP) for green energy infrastructure such as renewable energy generation, energy storage solutions and electrified transportation services. ..

Investors included German, French and Japanese governments, charities and global institutional investors.

BlackRock is aiming for CFP to raise at least $ 500 million by next summer, “I’m happy to have half of the target in our first financial results.”

by Financial TimesThe fund plans to invest in the project over a period of three to four years and expects investors to have a “double-digit low return” over the next seven years.

“Invented at the One Planet Summit in September 2018 under the leadership of French President Emmanuel Macron, the CFP is a climate infrastructure that allows the public, charitable and private sectors to work together to have a positive impact on the environment and society. It shows the potential to mobilize large investments in. It enables attractive risk-adjusted returns, “said the asset manager in a press release.

BlackRock also needs “heavy capital” in emerging market climate infrastructure to help reduce carbon emissions, and by 2050 the transition to a net-zero economy will be “more to the developing region.” It can only be achieved by a large flow of institutional capital. ” There are serious challenges due to population growth, rising energy demand and climate change. “

In a statement, French Development Agency CEO Remy Riu described the CFP as “helping to reorient funds for sustainable development investment across the emerging world” and “an ambitious partnership.” called.

Secretary of State Jochen Flasbarth of the German Ministry of Environment, Nature Maintenance and Nuclear Safety said: -Carbon and climate resistant development. “

“The Paris Agreement is nothing more than a transformation of the climate-friendly financial sector,” added Frasbers.


Source: Equity news

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