Climate Finance Partnership

Climate Finance Partnership Statement

We, the undersigned, recognizing the need to significantly expedite the mobilization of private capital to address the climate challenge, and invest in the significant economic opportunities embedded in the transition to a global low carbon economy, do hereby announce our commitment to establish an innovative partnership structure – the Climate Finance Partnership – that seeks to raise and deploy institutional capital to mainstream climate infrastructure in emerging markets, and accelerate the global power and energy transition.

The Climate Finance Partnership is inspired by the leadership of French President Emmanuel Macron and coordinated with the support of the Task Force on Philanthropic Innovation, which was launched by the President at the One Planet Summit in Paris in December 2017, and Aligned Intermediary.

The Partnership will feature a unique blend of philanthropic, government, and private sector capital, and it will showcase the power and catalytic role of philanthropic and public capital to facilitate top-tier institutional capital investment into climate-related sectors in emerging markets.

We confirm that philanthropic and government entities in the Partnership, including those listed below, will seek to make a major strategic, catalytic investment of capital in a way that will be used to strategically mobilize a multiple amount of institutional capital commitments toward solving the climate problem.

We confirm that BlackRock will work with members of the Partnership to design a structure that aims to significantly expand the flow of institutional capital focused on the long-term theme of climate infrastructure investment. BlackRock will seek to manage the assets raised by this Partnership, as part of the firm’s commitment to extend its Renewable Power platform – which has already invested $5 billion in over 190 wind and solar projects – accelerating capital to climate infrastructure and the global energy transition.

The partnership will seek to make investments in a targeted set of sectors including renewable energy, energy efficiency, energy storage, and low-carbon and electrified transportation, across countries in three regions including Latin America, Asia, and Africa.

We, the undersigned, commit to collaborating diligently with a goal of finalizing the terms and structure of this exciting new investment partnership by the first quarter 2019.

Agence Française de Développement

Federal Ministry for the Environment, Nature Conservation and Nuclear Safety of Germany

The William and Flora Hewlett Foundation

The Grantham Foundation for the Protection of the Environment

The IKEA Foundation

BlackRock

Quoted from: https://europeanclimate.org/news/governments-and-philanthropies-announce-ground-breaking-partnership-with-blackrock-to-mobilize-and-deploy-climate-finance-at-scale/