HSBC and IFC raise $474m for climate action in emerging markets

HSBC Global Asset Management and IFC have announced the third closing of the HSBC Real Economy Green Investment Opportunity GEM Bond Fund (REGIO), which has raised $474m of new financing to support climate mitigation investments across emerging markets in spite of prevailing market turmoil.

As emerging market countries have been hit by some of the worst impacts of climate change, REGIO has been designed to attract investments into these economies; enabling their energy transition and helping them limit the effects of climate change.

REGIO will use both public and private capital to build climate change mitigation capacity in emerging market economies. HSBC and IFC each committed $75m to the fund as anchor investors, and seven private investors have now joined.

Nicolas Moreau, Global CEO, HSBC Global Asset Management, said: “We are at a tipping point in terms of climate change and investing in the real economy in emerging markets is critical to achieving the global transition to a lower carbon economy. Funds such as REGIO prove how we can achieve real economy impact in the markets that are most challenged by it.”

The fund is supported by HSBC Global Asset Management’s Green Impact Investment Guidelines which set out a framework for the firm’s green impact strategies across asset classes, including eligible projects and activities aligned with impact.

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