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B. G., Opalesque Geneva: BlackRock, the world's largest asset manager, has achieved a US$673m final fundraise for the Climate Finance Partnership (CFP). CFP is a flagship public-private finance vehicle focused on investing in climate infrastructure across emerging markets in order to help accelerate the global transition to a net-zero economy. A global consortium of 22 investors including governments, philanthropies, and institutional investors committed to the fundraising, which was oversubscribed and exceeded its target of $500m.
CFP will target investments in select non-OECD countries in Asia, Latin America, and Africa. These regions present significant investment opportunities for global investors in climate infrastructure over the coming decades due to significant growth in electricity demand, increasing urbanization and rapid economic development. Renewable energy in non-OECD markets is projected to make up 49% of global energy capacity by 2050, compared to 25% for the OECD renewable market.
The fund's focus on the climate infrastructure sector include: (i) grid-connected and/or distributed renewable power generation; (ii) energy efficiency in residential, commercial and/or industrial sectors; (iii) transmission or energy storage solutions; and (iv) ultra-low emission or electrified transportation and mobility services.
"CFP reflects BlackRock's commitment t...................... To view our full article Click here
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