CIF launches $75 billion clean energy bond program on LSE

The Climate Investment Funds (CIF) Capital Markets Mechanism (CCMM) has announced the listing of its bond issuance program on the London Stock Exchange (LSE). The announcement was made on Tuesday, 12 November, 2024 at a session during the COP29 conference in Baku, Azerbaijan.

The listing is designed to mobilize private capital for clean energy projects in developing countries. With the World Bank acting as trustee, CCMM will issue investment-grade bonds to fund critical climate solutions such as solar and wind farms. CCMM is expected to leverage the power of capital markets to drive sustainable development and reduce greenhouse gas emissions.

CIF is a globally renowned climate fund working to scale climate solutions in developing countries. It comprises two funds: the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF). CIF has a proven track record of mobilizing over USD 12 billion in climate finance over the past 16 years to develop impactful projects that have benefited over 80 developing countries.

Tariye Gbadegesin, CEO of Climate Investment Funds, hailed the listing as a testament to innovation and cooperation in the addressing the effects of climate change. "CCMM will mobilize private capital at scale and direct it to high-impact clean energy and clean technology investments. While this is an ambitious step forward, it is rooted in a 16-year track record of being a first mover, working with national governments, the private sector, and frontline communities to pioneer cutting-edge clean technologies and solutions paving the way for greater ambition."

Following the listing of the bond issuance program, CCMM will pursue an inaugural bond issuance, subject to market conditions. CCMM is expected to attract diverse global investors and promote broad-based participation in climate financing. This innovative financial initiative marks a pivotal step in global climate funding, aiming to direct substantial private sector capital into impactful green infrastructure.