Investment Strategies
Deutsche Signs Investment Pact With Green Climate Fund

Germany's largest bank signs an agreement on investment with a fund created by a raft of nations to tackle climate change.
Deutsche Bank
agreed with the South Korea-headquartered Green Climate Fund for
to receive and use GCF capital and raise further funds from
private sector investors to support action on climate
change.
The Green Climate Fund works through a wide range of “accredited
entities to” channel its resources to projects and programmes.
Deutsche Bank is the second commercial bank to sign such a pact
with with GCF, it said.
The agreement has been signed in London by Nicolas Moreau, head
of Deutsche Asset Management and member of the bank’s management
board, and executive director of the GCF’s Secretariat, Howard
Bamsey.
The fund approved the first funding proposal from Deutsche Bank
in October last year. The Universal Green Energy Access Programme
combines capital from the GCF with private sector investment to
finance renewable electricity access for nearly half a million
people and small and medium sized enterprises in cooperation with
local banks in Africa.
The GCF has “anchor investment” of $78.4 million.
Created by the United Nations Framework Convention on Climate
Change, the fund sets out to bring about a change in how climate
change is tackled, directing money low-emission and
climate-resilient projects and programmes in developing
countries. The fund was set up in 2010 by 194 countries.