COP28: Donors join IFC to lure $11 billion in climate cash

Some of the world’s biggest charities have joined forces with the World Bank’s private investment arm in a climate financing venture to try to generate $11 billion in investments in developing countries.

Launching the Allied Climate Partners (ACP) platform on Friday, the group aims to use an initial $825 million to attract far more private cash than any previous blending of public and private money of this kind has managed.