CDP invests 70 million euros to promote projects to combat climate change

Press release

CDP invests 70 million euros to promote projects to combat climate change

• Cassa Depositi e Prestiti invests in EGO, the largest fund in the world dedicated to investing in green bonds, with a focus on emerging markets
• By investing in the fund, CDP has strengthened its international role in climate finance by supporting leading development institutions such as the International Finance Corporation, the European Investment Bank, the European Bank for Reconstruction and Development, and Proparco, the French Development Finance Institution

 

Rome, 20 January 2021 - Cassa Depositi e Prestiti (CDP), in the role of Italian Financial Institution for Development Cooperation, has invested 70 million euros in EGO (Amundi Planet-Emerging Green One), the world’s largest fund dedicated to investment in green bonds, promoted by the World Bank Group's International Finance Corporation (IFC) and the first of its kind to focus exclusively on developing countries and emerging markets, mainly in Africa, Asia and Latin America.

The EGO fund has raised approximately 1.5 billion dollars from public and private investors and is dedicated to investing in green bonds issued by financial institutions to support initiatives with a high positive environmental impact, such as energy efficiency projects, development of renewable energies and activities aimed at combating climate change.

The initiative is linked to a capacity building plan, funded by various European countries, which offers specific training modules to support issuers, facilitating the adoption and dissemination of international best practices. The fund has received important international recognition, with awards including the Principles for Responsible Investment (PRI) “Real world impact initiative of the year”, based on the current and forecast impacts of its investment activities.

CDP’s fellow investors in the fund include leading development institutions including IFC, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and Proparco, the French Development Finance Institution, as well as private institutional investors.

CDP's investment strengthens its international role in financial support for investments to combat climate change and in initiatives aimed at promoting green finance and capital market growth in developing countries.

The initiative confirms CDP's commitment at an international level in the pursuit of the United Nations Sustainable Development Goals, in particular Goal 6 of the 2030 Agenda, which aims to ensure availability and sustainable management of water and sanitation, Goal 7, dedicated to ensuring access to affordable, reliable, sustainable and modern energy for all, Goal 13, which aims to take urgent action to combat climate change and its impacts, and Goal 15, aimed at protecting, restoring and promoting sustainable use of terrestrial ecosystems.

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