Blended Climate Finance Discussed at COP29 in Baku
At the 29th UN Climate Change Conference (COP29) in Baku, the spotlight was on blended finance mechanisms, which are seen as essential tools for driving private sector investment into climate-related projects. By combining public and private resources, these mechanisms help reduce investment risks, attract innovative technologies, and accelerate the transition toward a green economy.
Manas Gizhduaniyev, CEO of the AIFC Green Finance Centre, highlighted the importance of blended finance in mobilizing private capital for climate action. “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,” he noted. He also pointed to UniBank’s recent issuance of green bonds in Baku as an example of the growing trend of blended finance in the region, sending a positive signal for future investments.
Manas Gizhduaniyev, CEO of the AIFC Green Finance Centre, highlighted the importance of blended finance in mobilizing private capital for climate action. “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,” he noted. He also pointed to UniBank’s recent issuance of green bonds in Baku as an example of the growing trend of blended finance in the region, sending a positive signal for future investments.
The session delved into successful blended finance models, examining their impact on both regional and national development. Experts also discussed the key barriers and enablers for adopting these mechanisms, focusing on how public and donor funding tools can effectively attract private capital.
The conference provided a platform for key industry leaders to share insights on climate finance, including:
- Dr. Ma Jun, Chairman of China’s Green Finance Committee
- 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
- Dr. Ma Jun, Chairman of China’s Green Finance Committee
- 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
