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Understanding Climate Finance
Shari Friedman discusses Climate Business at the International Finance Corporation (IFC)
Mar 26, 2021
Shari Friedman, the Acting Global Head for IFC's Climate Strategy and Business Unit, dives into the International Finance Corporation's pivotal role in climate investing. Discover how they've increased climate-related investments from 15% to over 30% in recent years. Friedman highlights innovative blended finance strategies boosting renewable energy in the Dominican Republic and discusses emerging opportunities in battery storage, green hydrogen, and net-zero standards. Learn about the importance of sustainability conversations in shaping resilient businesses.
15:54
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Quick takeaways
- The International Finance Corporation has effectively increased its climate-related investments from 15% in 2013 to over 30% by 2020, demonstrating a strong commitment to climate finance.
- Utilizing blended finance, the IFC has successfully facilitated renewable energy projects like a wind farm in the Dominican Republic, addressing both investment risks and national climate goals.
Deep dives
IFC's Commitment to Climate Business
The International Finance Corporation (IFC) has been committed to climate business since 2015, successfully exceeding its initial target of 28% climate-related investments by 2020. This commitment extends beyond investment, aiming to open markets and create lasting impacts on climate initiatives that reach beyond individual projects. With global emissions needing significant reductions by 2030, the urgency for such commitments has never been clearer. IFC has strategically allocated over $23 billion in long-term financing toward climate business, showcasing its proactive approach to fostering sustainable economic growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode