“HSBC raises £386m fund for climate mitigation in developing countries” – edie – May 21, 2020

On May 21, 2020 edie reported that “HSBC Global Asset Management and IFC, a member of the World Bank Group, have each committed £61m ($75m) to the HSBC Real Economy Green Investment Opportunity GEM Bond Fund (REGIO), acting as anchor investors for the fund. Seven other private investors have joined the initiative, bringing the fund’s total to $474m at the third closing.

The two investors expect others to commit to the fund, which focuses on attracting investments in developing economies, later this year.

HSBC’s group chief executive Noel Quinn said: ‘At HSBC we have a long history of connecting markets with opportunities and we recognise that economic growth must be sustainable over the long term. Investors want more socially and environmentally responsible investment opportunities and funds such as REGIO are a way for them to achieve their sustainable objectives.’

REGIO will access both public and private capital to fund climate mitigation projects in markets where access to capital is limited, especially during the market turmoil caused by Covid-19.

The green bond will be supported by IFC, which is the largest global development institution focused on the private sector in emerging markets.”

You may read the article on the edie internet site.