.png)
Allied Climate Partners and IFC Join Forces for Achieving Climate Goals in Asia
Here is an article by Hubbis. According to it:
-
Allied Climate Partners, International Finance Corporation, Monetary Authority of Singapore, and Temasek have partnered to address the need for $1.7 trillion annually in infrastructure investments in developing Asia to meet climate goals.
-
The focus is on making green projects financially viable through blended finance and attracting private capital.
-
The partnership aims to develop investments in renewable energy, electric vehicles, sustainable transport, water, and waste management.
Here are some other similar initiatives taken up across the world:
- Brookfield Renewable agreed to acquire Scout Clean Energy, a leading U.S. renewable energy developer with over 1,200 MW of operating wind assets, for $1 billion.
- Starting in late 2021, the EIB will cease financing new fossil fuel energy projects, including gas, focusing instead on clean energy innovation, efficiency, and renewables.
- Breakthrough Energy Ventures (BEV) is a $2 billion fund founded by Bill Gates in 2015 to accelerate the development and deployment of innovative clean energy technologies. BEV invests in high-risk, long-term projects, with a focus on technologies that may take 20 years to reach commercial viability.
