On July 5, 2021 Nikkei Asia reported that “U.S. investment giant BlackRock will launch a 55 billion yen ($500 million) fund aimed at developing infrastructure for the transportation of green energy in emerging markets, including renewable energy.
The fund, which will be created in collaboration with government agencies and private financial institutions from Japan, Germany, and France, will seek to encourage developing countries to accelerate initiatives to tackle climate change.
Under the name of ‘Climate Finance Partnership,’ the fund will target investments in infrastructure projects in Asia, Latin America and Africa. BlackRock, one of the world’s largest investment management companies, will act as coordinator.
Half the initial target of around 55 billion yen has already been secured and the fund is likely to make an announcement about its investors soon.
Government-linked organizations such as the Japan Bank for International Cooperation, the French Development Agency, and Germany’s state-owned government development bank (KfW) are expected to have contributed around 12 billion yen. Japan’s Dai-ichi Life Insurance Company, Mitsubishi UFJ Financial Group and other investors are also expected to have injected several billion yen.
You may read the article on the Nikkei Asia internet site.