Finance

U.S Development Finance Corporation Considers Committing $100 Million to Tackle Climate Change

Thursday, 22 April 2021 16:36
U.S Development Finance Corporation Considers Committing $100 Million to Tackle Climate Change

(Ecofin Agency) - The United States International Development Finance Corporation (DFC) is considering deploying $100 million or more for projects related to climate change mitigation, adaptation, and solutions. 

"Climate change is negatively impacting health and productivity, food production, and critical infrastructure around the world, but people in developing countries are particularly vulnerable to the impacts from climate change,” said David Marchick, DFC Chief Operating Officer.

The announcement aligns with a global movement of development finance institutions. The latter consists either of supporting initiatives aimed at reducing the effects of climate change or better yet disengaging from all investments that have a negative impact on the climate.

In this vein, Norfund, the Norwegian sovereign wealth fund, has decided to no longer invest in any project likely to accelerate world climate change. Similarly, during its recent spring meetings, the World Bank Group Presented a plan in this direction. There are also investors such as Allianz, AXA, Goldman Sachs, and Macquarie who plan to collaborate in emerging markets with the aim to speed up the financing of necessary climate investments.

Ironically, the institution remains connected to oil and gas projects. Indeed, available data shows that out of the $1.65 billion commitments it declared since the beginning of this year, the DFC has dedicated nearly $1.5 billion to a gas development project in Mozambique.

Solange Che



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.