Climate Finance - New Energy Events

Shareholders request Barclays phase out financing of fossil fuel companies

Barclays shareholders have filed a landmark resolution asking the bank to phase out the financing of fossil fuel companies. The request came from 11 institutional investors managing more than US$170.6 billion and about 100 individual shareholders, and will be voted on at the British bank’s annual general meeting in May. Barclays is currently the highest […]
Climate mitigation, smart cities see influx of finance

Finance is flowing toward climate mitigation projects at record levels, according to a Climate Policy Initiative report. Among recent multilateral investments: the approval of US$800 million from the New Development Bank for renewable energy projects in India and Brazil, and more than US$100 million in financing from the European Investment Bank (EIB) for renewable energy […]
Panama issues its first green bond

Panama’s first green bond has been emitted by the InterAmerican Corporation for Infrastructure Financing (CIFI). CIFI is the leading non-bank financial institution in Latin America and the Caribbean specializing in infrastructure and energy financing, and has many years of experience in the sector. CIFI has employed MMG Bank to structure and allocated this USD 200 […]
UN Secretary-General heads to the Caribbean to discuss climate change

The United Nations Secretary-General, António Guterres, will meet with leaders of the 15 members of Caricom to discuss climate resilience and climate financing. The Secretary-General addressed the leaders of Caribbean nations at the 40th meeting of Caricom in St. Lucia, two days ago. Caricom Secretary-General Ambassador Irwin LaRocque said climate change, ocean economy and pollution […]
Chile to issue more sovereign green bonds

Chile emitted its first sovereign green bond last week. Due to its success, further sovereign green bonds are expected to be issued by the state. The bond low’s interest rate, good rating and its high demand resulted in the success of Chile’s first green bond to surpass expectations. “The issuance of our first green bond […]
Risks posed to ocean health drive investment in blue economy

The Blue Economy, defined by the World Bank Group as the sustainable use of ocean resources for economic growth and improved livelihoods and jobs while preserving the health of marine and coastal ecosystem, represents global economy activity estimated between USD 3 to USD 6 million per year. Issues with ocean health which affect human activities, food […]
Climate financing from development banks reaches USD 43.1bn in 2018

The world’s six largest multilateral development banks (MDBs) committed over USD 43 billion in climate financing to support climate action initiatives. Climate financing therefore increase by 22% compared to the previous year, according to the 2018 Joint Report on Multilateral Development Banks’ Climate Finance. Since 2011, when the six MDBs started tracking their climate financing, […]
Barbados gets access to millions in funding for climate finance

This week, Barbados signed an agreement with the Green Climate Fund which will allow the country to access significant grants for climate finance. The Readiness Grant agreement was signed by the Economic Affairs and Investment Minister Marsha Caddle in South Korea, on the sidelines of the fund’s Global National Designated Authority and Private Investment for Climate […]