April marked a major landmark in European multi-lateral cooperation with the launch of the Global Green Bond Initiative (GGBI)2. With a goal of mobilizing public and private capital to finance climate transition in emerging markets, the fund will become one of the world’s largest global blended finance enterprises. We sat down with Eric Dussoubs, Managing Director of Public Sector, at Amundi, to discover why this is such an important milestone for climate finance, and the role Amundi will play in making it a success.
How did the Global Green Bond Initiative come together, and what is Amundi’s role within it?
GGBI is a Global Gateway initiative launched by the European Union with the ambition to channel private capital into green bond markets in low- and middle-income countries, where the climate financing gap is most acute. The EU brought together a consortium of nine development finance institutions (DFI) and public sector institutions, including the EIB, EBRD, KfW, Proparco, CDP, FMO, LuxDev, the Government of Spain and the Green Climate Fund, who collectively provide an equity backbone for the fund. Amundi is the sole manager for this fund. As such, our role was to structure the strategy and next it will be to deploy the capital in target instruments. We also bring our expertise in green bond markets to the GGBI Technical Assistance programme, managed by the European Commission, which supports issuers on the ground in building credible green bond frameworks, aligned with European Commission standards. In short, the DFIs I mentioned provide the capital and the policy mandate and Amundi provides the structuring and investment management.
You can now read the full whitepaper at the link below
