Deutsche Asset Management (DeAM) aims to raise millions of dollars for climate change investment in developing countries after a deal was struck between Deutsche Bank and the Green Climate Fund.
Deutsche Bank signed an agreement with the fund that will allow the bank to receive and use the fund’s capital and raise further funds to support action on climate change.
The bank said this would allow DeAM’s sustainable investments group to raise a total of $300 million (€267 million) in capital.
The Green Climate Fund is supported by 200 governments and aims to raise investment for “low-emission and climate-resilient” development in emerging economies and frontier markets through loans, equity, guarantees and grants to private sector corporations in these countries.
“This signature marks a milestone for [Green Climate Fund] as it unlocks the broad international expertise of Deutsche Bank in directing private investment flows toward climate action,” said Howard Bamsey, executive director of the fund’s secretariat.
*Pictured L-R: Michael Hoelter and Nicolas Moreau from Deutsche Asset Management, and Howard Bamsey from the Green Climate Fund.
©2017 funds europe
