BlackRock has joined with France, Germany and global foundations in a financial partnership designed to back climate-related investments in emerging markets.
The vehicle, known as the Climate Finance Partnership (CFP), is looking to ramp up investments in sustainable infrastructure in Southeast Asia and Latin America, with a minimum of 25 percent of capital to be invested in Africa. The CFP is BlackRock’s first vehicle focused on climate infrastructure investments in emerging markets.
“The unique challenges posed by climate change call for stronger joint action,” emphasized Remy Rioux, CEO of the French Development Agency (AFD), a member of the CFP. He added that the partnership will prioritize Africa because it is one of the most vulnerable regions to climate change, even though it contributes the least to global warming.
The climate infrastructure sector includes grid connected and/or distributed generation renewable energy power, energy efficiency in re