UK, Norway and Canada launch $10 billion climate finance initiative : US Pioneer Global VC DIFCHQ SFO NYC Singapore – Riyadh Swiss Our Mind

ANTALYA, Turkey, Nov 13 (Reuters) – Development finance institutions for Britain, Norway ‌and Canada on Friday launched ‌a joint initiative to channel $10 billion into ​climate projects in emerging markets by 2030.

• The three state-backed lenders, British International Investment, Norway’s Norfund and ‌FinDev Canada, ⁠will share investment pipelines, coordinate due diligence and cooperate on ⁠climate reporting under a memorandum of understanding

• They launched the initiative ​at the ​COP31 climate ​summit in Antalya, ‌Turkey

• The $10 billion target includes private capital which the partners expect to attract for the initiative

• Funding will go to renewable energy, transmission ‌and distribution grids, ​energy storage, sustainable fuels ​and ​industrial decarbonisation

• Poor nations most ‌exposed to climate-related disasters ​are ​making urgent pleas for cash as Western governments put national security ​and living ‌costs first

https://sg.finance.yahoo.com/news/uk-norway-canada-launch-10-132856229.html?shem=aimgspe,