Public funds are used in "blended finance" to boost private investment in climate projects, raising $18.3B in 2021.

Public funds are increasingly being used through "blended finance" to encourage private investment in climate projects, especially in developing countries. This approach helped raise $18.3 billion in climate funding in 2021, up from $8 billion the previous year. FinDev Canada recently launched a $1.5 billion blended finance platform, partnered with Mitsubishi Financial Group and the Green Climate Fund, to assist up to 25 developing countries. Despite complexities and challenges, blended finance is seen as a vital tool to meet global climate funding targets.

November 24, 2024
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