The Climate Finance Partnership (CPF) is a blended finance investment fund for greenhouse gas mitigation projects in emerging and developing countries.
The fund has achieved to raise more than $670 million to finance green infrastructure projects, energy efficiency solutions and clean mobility in emerging Asia, Latin America and Africa.
The fund's key partners were initially 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, subsequently joined among others by the Japan Bank for International Cooperation.
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 €130 million from States and foundations has permitted to raise almost €540 million in private capital for climate change mitigation projects in emerging countries. A quarter of these investments must contractually be made in Africa.
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, KfW and JBIC, 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.
For the AFD:
+33 1 53 44 40 31
For the Federal Ministry of Environment, Nature Conservation and Nuclear Safety of Germany (BMU):
Stephan Gabriel Haufe
+1 (646) 231-0268