French asset management giant Amundi has announced that its Amundi Planet-Emerging Green One fund, launched last October, has raised more than $1.2bn (€1.02bn) of assets at the occasion of the One Planet Summit organised in Paris.
The fund was born of a partnership with a World Bank Group’s member IFC and invests in green bonds issued by private sector financial institutions active in emerging markets. The book building period will close in February 2018.
Philippe Le Houérou, CEO of IFC, said: “IFC has been a pioneer in developing the green bond market, and with Amundi we are now on track to create the first and largest global bond fund designed to invest in emerging market green bonds issued by financial institutions.
“This innovative new approach will help create markets for green bonds in emerging markets, addressing demand by crowding-in new sources of capital to fund climate projects, and do so at scale. IFC’s advisory work with its global network of financial intermediaries will help boost the supply of green bonds, through capacity building to prepare to issue green bonds and support to identify and measure green investments.”
Yves Perrier, CEO of Amundi, commented: “Amundi is honoured to have been selected by IFC for the management of such an innovative and large investment solution. It leverages Amundi’s expertise in emerging market debt. Our goal is to help investors to take into account more and more ESG and climate change factors in their investment portfolios. Amundi reinforces its worldwide positioning and its leadership in ESG approach.”