A unique partnership between governments, philanthropies and BlackRock to create a climate change mitigation fund for developing countries.

The Climate Finance Partnership (CPF) is a blended finance investment fund for greenhouse gas mitigation projects in emerging and developing countries.

It aims to raise between $500 million and $1 billion to finance green infrastructure projects, energy efficiency solutions and clean mobility in emerging Asia, Latin America and Africa. 

The fund's partners are the BlackRock Corporation, the French Development Agency (AFD), the German Ministry of the Environment (BMU), the William & Flora Hewlett Foundation, the Grantham Foundation for the Environment and the Quadrivium Foundation.

The Fund, initiated by the One Planet Summit Philanthropists Task Force, was announced at the One Planet Summit in September 2018.

A first tranche of €100 million from States and foundations will raise a minimum of €400 million in private capital for climate change mitigation projects in emerging countries. A quarter of these investments must contractually be made in Africa.

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The CPF  is structured as an investment fund managed by BlackRock. There will be two types of investors: one made up of foundations and donors such as AFD and KfW and a second made up of private investors. The investment decisions will be delegated to BlackRock who will follow the defined investment policy. 

This project, like all other projects followed by the French and German public authorities, will be subject to the same environmental, social and governance standards. They will be required of BlackRock as of any other fund manager.

France and Germany will participate in the fund's advisory committee in order to help monitor the proper implementation of the investment policy, which, on the most important points from the governments' point of view, cannot be modified without the agreement of both states.

Press release: 
www.afd.fr/fr/actualites/communique-de-presse/davos-2020-climate-finance-partnership
 

Contacts

For the AFD: 
Magali Mévellec 
+33 1 53 44 40 31 
mevellecm@afd.fr 

For the Federal Ministry of Environment, Nature Conservation and Nuclear Safety of Germany (BMU):  
Stephan Gabriel Haufe 
+ 4930183052010 
presse@bmu.bund.de 

For BlackRock: 
Ed Sweeney 
+1 (646) 231-0268 
ed.sweeney@blackrock.com