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BlackRock raises $250 million for emerging markets-focused climate fund

By Reuters Staff 2 Min Read FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo (Reuters) - BlackRock Inc, the world’s biggest asset manager, said on Thursday it has raised over $250 million for its climate finance fund to invest in select countries in Asia, Latin America, and Africa. BlackRock’s Climate Finance Partnership (CFP) will focus on investing in areas like renewable power generation, energy storage solutions, electrified transportation services and is targeting to raise at least $500 million, the company said.

Climate Finance Partnership Raises US$250 Million at First Close to Invest in Emerging Market Climate Infrastructure

NEW YORK (BUSINESS WIRE) Jul 8, 2021 BlackRock has secured more than US$250 million in commitments from a consortium of global institutional investors, governments and philanthropies for the Climate Finance Partnership (CFP), a flagship blended finance vehicle focused on investing in climate infrastructure across emerging markets in order to accelerate the global transition to a low carbon economy. Conceived at the One Planet Summit in September 2018 under the leadership of French President Emmanuel Macron, CFP showcases the potential for the public, philanthropic and private sectors to work together to mobilize significant investment into climate infrastructure that can deliver positive environmental and social impact and allow for attractive risk-adjusted returns.

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