• 40 mins Shell Restarts Bonny Light Exports
  • 2 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 8 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 13 hours British Utility Companies Brace For Major Reforms
  • 17 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 19 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 20 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 21 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 22 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 23 hours Rosneft Signs $400M Deal With Kurdistan
  • 1 day Kinder Morgan Warns About Trans Mountain Delays
  • 1 day India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 7 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 8 days Renewable Energy Startup Powering Native American Protest Camp
  • 8 days Husky Energy Set To Restart Pipeline

Breaking News:

Shell Restarts Bonny Light Exports

Alt Text

Can India Overtake China In The EV Revolution?

India wants to drastically increase…

Alt Text

Who’s Winning The Electric Vehicle Race?

Automakers and suppliers of automotive…

Christopher Cundy

Christopher Cundy

Christopher is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Germany Eyes $500 Million for Public-Private Climate Fund

Germany Eyes $500 Million for Public-Private Climate Fund

Germany has launched a 'climate protection' fund to help local banks invest in energy efficiency and renewables for small businesses and households in developing countries, seeding it with more than $100 million.

Germany’s Federal Ministry of the Environmental (BMU) and state-owned development bank KfW have jointly pledged the sum, saying they are expecting to attract further public and private investors to swell the fund to $500 million in the next five years.

“As a result of the BMU providing equity capital and hence taking on some of the commercial risk, we are creating the necessary incentives for private investors to take a stake,” said environment minister Norbert Röttgen.

Development banks such as the European Investment Bank are likely to be among the other public investors, a KfW spokesman said.

The fund will support small and medium-sized companies and households in making energy efficiency improvements and installing renewable energy generation. The money will be made available through local banks, with the fund essentially refinancing the local lenders and making a return on the interest rate charged.

The lending will focus on countries with a significant industrial base and large population, including Brazil, China, India, Indonesia, Philippines, South Africa, Turkey and Ukraine.

“The funds are used on a rolling basis, allowing the money which is paid back to flow into the fund assets,” the organisations said.

A tender is out to select a private-sector fund manager to operate the fund. The spokesman said the winner would be announced within weeks.

The BMU’s funding of €20 million ($28 million) comes from its international climate protection initiative, which is financed through the auctioning of emissions allowances in the EU Emissions Trading Scheme. KfW has promised more than $75 million for the fund.

By. Christopher Cundy

Source: Environmental Finance




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News