ESG & Investing
A $12 Billion Climate Fund Is Readying a Rare Bond Issuance
- CIF expects the sale to have ‘multipler effects’ for market
- Developing nations seek climate funds amid widespread pushback
Multilateral climate funds are designed to collect funds from rich nations and distribute them to developing countries.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
A multilateral climate fund is preparing to access capital markets for the first time, as governments balk at providing the extra financing needed to cut global emissions.
The Climate Investment Funds, a $12 billion fund inside the World Bank, is planning a roughly $500 million bond issuance, with proceeds intended to spur investment in renewable energy and new technologies in developing economies over the next five to 10 years.