Blended climate finance discussed at COP29 in Baku, DKnews.kz reports.
Blended finance instruments, crucial for engaging private sector participation in climate-related projects, play a vital role in accelerating the green economy transition and integrating new technologies. This topic took center stage at the " Prospects for the development of blended finance mechanisms" session, hosted by the AIFC on 14 November at COP29 in Baku.
"Blended finance is key to mobilising private capital for climate-related projects. It reduces investment risks, attracts new technologies, and ultimately speeds up the shift to a green economy. The issuance of UniBank’s first green bonds in Baku is a compelling example of this trend and a positive signal for the region" Manas Ghizduaniyev, CEO of the AIFC Green Finance Centre
Participants also discussed effective blended finance mechanisms in regional and national contexts, practical implementation tools, barriers and catalysts for adoption, and successful examples of financing for energy transition. Additionally, discussions explored attracting private capital through public and donor funding tools. The session served as a valuable platform for sharing insights and forging collaborative solutions to drive climate investment goals.
Prominent speakers included Dr. Ma Jun, Chairman of China’s Green Finance Committee and Co-Chair of the Steering Committee of the Green Investment Principles; Sean Kidney, CEO of the Climate Bonds Initiative; Conrad Albrecht, Managing Director of the Eurasian Development Bank; Botagoz Abisheva, Deputy Chairperson of the Development Bank of Kazakhstan; Andrew Jeffries, Energy Transition Advisor for the Asian Development Bank; Almasbi Kamalov, Chief Financial Officer at Samruk-Energy; and Ardhi Wardhana, climate and energy economics researcher at CSIS.
