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

flag Public funds are increasingly being used through "blended finance" to encourage private investment in climate projects, especially in developing countries. flag This approach helped raise $18.3 billion in climate funding in 2021, up from $8 billion the previous year. flag 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. flag Despite complexities and challenges, blended finance is seen as a vital tool to meet global climate funding targets.

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