Climate Changed
Largest Green-Bond Fund for Emerging Markets Nearing $2 Billion
- Fund seeks to expand green economies in emerging markets
- Green-bond market to grow more than 30 percent this year
Solar panels stand at the Ivanpah Solar Electric Generating System in the Mojave Desert near Primm, Nevada.
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
The World Bank’s International Finance Corp. and European asset manager Amundi SA are targeting year-end to raise $2 billion for what is expected to be the world’s largest green-bond fund dedicated to emerging markets.
The fund aims to marry the goals of investors seeking more high-yield opportunities and development banks seeking to expand the green economy in emerging markets. Initially, only 10 to 12 percent of capital in the Amundi-IFC fund will be invested in green bonds, said Fred Samama, deputy global head of institutional and sovereign clients at Amundi, in an interview.