Tariye Gbadegesin, Chief Executive Officer of the Climate Investment Funds (CIF), today joined UK Prime Minister Keir Starmer and World Bank President Ajay Banga at COP29 to unveil a groundbreaking achievement for climate finance. The CIF Capital Market Mechanism (CCMM) has been officially listed on the London Stock Exchange, marking a global first in climate finance.
This new initiative represents CIF’s most ambitious step yet to mobilize private capital for high-impact clean energy and technology investments, particularly in developing countries and emerging economies. CCMM will empower CIF to unlock the potential of capital markets and drive substantial climate investments worldwide.
“We are proud to take this major leap forward in mobilizing climate finance at scale,” said Gbadegesin. “Bold and creative solutions are essential to tap into private finance, and this listing is a testament to the potential of capital markets in addressing the climate crisis. Our goal is to ensure that high-impact projects in clean energy and technology are supported, especially in regions where they are needed most.”
The listing of CCMM is the culmination of years of collaboration and tireless efforts. Gbadegesin extended her gratitude to the World Bank team for their role as Trustee and Treasury Manager of CCMM, as well as to other top-rated multilateral development banks including the Asian Development Bank, African Development Bank, EBRD, IDB, and IFC. Special thanks were also given to key figures like Akinwumi Adesina, Masatsugu Asakawa, Odile Renaud-Basso, Ilan Goldfajn, and Makhtar Diop for their continuous support.
Further appreciation was expressed to the UK Department for Energy Security and Net Zero, the US government, and all long-term donors supporting the Clean Technology Fund, including governments in Canada, Denmark, France, Germany, Japan, Spain, Sweden, the UK, and the US.
The CIF’s listing on the London Stock Exchange represents a pivotal moment in the fight against climate change, opening new avenues for investment in clean technology and energy solutions on a global scale. This milestone promises to enhance the funding needed to tackle climate change while benefiting communities in need across the globe.
About Climate Investment Funds (CIF):
CIF is a multilateral climate finance institution committed to scaling up investments in climate solutions. For more information, visit www.climateinvestmentfunds.org.
