Singapore to develop a new climate blended finance fund with BlackRock; commits up to US$500m

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Eco-Business 1d ago

Singapore to develop a new climate blended finance fund with BlackRock; commits up to US$500m - Eco-Business

Quick Summary:

At COP29, the city-state unveiled a third investment theme to decarbonise hard-to-abate sectors under its national blended finance scheme and pledged to match partner concessional capital dollar-for-dollar.

Blended finance has often been mooted as a way to use public and philanthropic capital to crowd in more private capital to close the climate financing gap.

MAS has appointed Pentagreen Capital, a sustainable infrastructure debt financing entity established by Hong Kong-based lender HSBC and Temasek in 2021, as the fund manager for the green investments partnership.