Climate Finance Leadership Initiative
The Climate Finance Leadership Initiative (CFLI) was created in January 2019 at the request of the UN Secretary-General to increase private sector investment in clean energy and climate solutions in emerging markets. In line with the Paris Agreement, the CFLI works to boost private sector investment in strategies, projects, and industries that lower carbon emissions to reduce the urgent health and economic risks posed by climate change.
As chair of the CFLI, Mike Bloomberg convened the CEOs of seven organizations as founding members to lead the work: Allianz Global Investors, AXA, Enel, Goldman Sachs, HSBC, Japan’s Government Pension Investment Fund, and Macquarie.
Members of the initiative developed a report and accompanying commitments on climate finance that were released during the UN Climate Summit in September 2019. At the Global Business Forum, the CFLI announced a partnership with the Association of European Development Finance Institutions to provide climate financing and investments in projects in emerging markets.
Top photo: The need for climate action has never been more urgent – and finance can play a powerful role in the transition to a sustainable and inclusive global economy. Photo credit: Shutterstock