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Investors want to ramp up 'blended finance' in climate fight

Rich countries have failed to live up to their financial commitments, prompting a need for new approaches.

Solar panels in South Africa. | Photo: Schalk Van Zuydam/AP/Ritzau Scanpix

A group of the world’s biggest asset owners are proposing a dramatic escalation of joint public-private financing ventures in a bid to help poor countries weather the climate crisis.

"This is a call for action," said Nadia Nikolova, lead portfolio manager for development finance at Allianz Global Investors, one of the founders of the Net Zero Asset Owner Alliance, which put forward the plan. "We need to find ways to transition these economies if we're going to win the climate battle at all."

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