Money talks: Global banks pour billions into climate projects at Baku summit
Major financial institutions announced huge climate-related investments during talks in Baku. Development banks‚ private investors and regional partnerships pledged over $200-billion for various eco-projects
At the recent eco-summit in Baku Azerbaijan over 60‚000 people (mostly from finance sector) came together to talk about climate money
The worlds biggest development banks made some big moves: they want to give $120-billion every year to not-so-rich countries for green projects. The Asian Development Bank jumped in with its own plan - putting $7.2-billion more into climate stuff after getting backup from USA and Japan
- Acumen a non-profit group promised $300-million for farming projects in Africa India and other places
- The Singapore money folks started a $5-billion program with BlackRock and other big names
- Pentagreen Capital (made by HSBC and Temasek) wants to put $1-billion into green building projects
- Local Azerbaijan banks said theyd give $1.2-billion to help their country go green
The Climate Investment Fund got listed on Londonʼs stock market; its gonna make $75-billion in the next decade. Meanwhile the Asian Development Bank started a cool $3.5-billion program to help places deal with melting glaciers - theyʼre looking at Pakistan Central Asia and other spots where ice is going away too fast
The Industrial program got some real heavy-hitters involved: International Finance Corporation‚ Mitsubishi UFJ‚ and AIA Group are all putting money in. Its gonna focus on making old factories and stuff work better for the planet
