ImpactAlpha, November 10 — Allianz Global, the €633 billion ($733.9 billion) asset management arm of German financial services company Allianz, teamed up with the European Investment Bank to invest in climate impact funds and projects in Africa, Asia, Latin America and the Middle East.
“Supporting climate projects in emerging and developing countries is the key to meeting the Paris climate goals,” said EIB’s Ambroise Fayolle.
Investors, including the German and Luxembourg governments, Nordic Development Fund and Swedish insurer Folksam, have already committed most of the capital. Allianz Global will manage the fund; EIB will be responsible for sourcing investments.
New climate funds
Chef José Andrés’ nonprofit World Central Kitchen launched a $1 billion fund to provide disaster relief for communities impacted by extreme weather… Firstime Ventures raised the first $50 million for a climate tech fund to “help build Israeli unicorns that will assist in dealing with the climate crisis,” Firstime’s Jonathan Benartzi said… Europe’s World Fund launches a €350 million ($405.7 million) climate tech fund.