{"id":53213,"date":"2024-11-25T13:18:23","date_gmt":"2024-11-25T13:18:23","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/11\/25\/how-public-funds-attract-private-dollars-for-climate-financing\/"},"modified":"2024-11-25T13:18:23","modified_gmt":"2024-11-25T13:18:23","slug":"how-public-funds-attract-private-dollars-for-climate-financing","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/11\/25\/how-public-funds-attract-private-dollars-for-climate-financing\/","title":{"rendered":"How public funds attract private dollars for climate financing"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Finance<\/li>\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">There&#8217;s an increasing push for blended finance, which uses public dollars to sweeten the financials of a project<\/p>\n<div class=\"article-meta\">\n<div class=\"wire-published-by\">\n<p class=\"visually-hidden\">Author of the article:<\/p>\n<p><\/p>\n<div class=\"wire-published-by__author-container\">\n<p>The Canadian Press<\/p>\n<p>Ian Bickis<\/p>\n<\/div>\n<\/div>\n<p><span class=\"published-date__since\">Published Nov 25, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"c45fb010-8b7a-4b52-89f8-ef976ad73e37\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" 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https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Canada Climate Change Ambassador Catherine Stewart speaks during a plenary session at the COP29 UN Climate Summit on Nov. 20, 2024, in Baku, Azerbaijan.\" class=\"featured-image__image type:primaryImage\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=288&h=216&sig=0pfsFGvgPVng6K958o9AfQ,\n                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1126-bc-climate.jpg?quality=90&strip=all&w=576&h=432&sig=jePVBVSSee3chG4QEnaDIA 2x\" height=\"750\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Canada Climate Change Ambassador Catherine Stewart speaks during a plenary session at the COP29 UN Climate Summit on Nov. 20, 2024, in Baku, Azerbaijan. <\/span> <span class=\"credit\">Photo by THE CANADIAN PRESS\/AP-Sergei Grits<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">TORONTO \u2014 The trillion-dollar question these days is where the huge sums of money needed to address climate change are going to come from, especially for developing countries.<\/p>\n<p>Getting governments to put up more was the big focus at the UN climate conference that wrapped this week, but as seen by a wave of criticism about weak funding commitments, alternatives are needed too.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment6233928563168174312877268479770624\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" 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articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cThere\u2019s just not enough money from government sources,\u201d Catherine McKenna, chief executive of Climate and Nature Solutions and former federal environment minister, said in an interview.<\/p>\n<p>To help narrow the substantial gap, there\u2019s an increasing push to use something called blended finance, which uses scarce public dollars to sweeten the financials of a project enough that it makes sense for the private sector to invest.<\/p>\n<p>\u201cWe need to be creative to get the incentives right to make it happen,\u201d McKenna said before countries agreed on the weekend to pool at least $300 billion a year by 2035.<\/p>\n<p>The model is especially needed in developing countries, where the risks are higher and so the business case is harder to make. This helps explain why such a big group of countries are only getting about 15 cents of every dollar spent globally on clean energy.<\/p>\n<p>Aiming to put a dent in the shortfall, FinDev Canada announced a blended finance platform just as COP29 got underway. In partnership with Mitsubishi Financial Group and anchored by a Green Climate Fund investment, the platform has set a $1.5-billion funding target to assist up to 25 developing countries.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste1419650843668363042309592921931776\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1600w\" alt=\"Posthaste\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment6660198410293932837124870869352448\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The fund will look to follow on past, smaller-scale efforts by Canada using blended finance, like a partnership that helped kick-start green energy in Uzbekistan.<\/p>\n<p>In 2020, Canada put up US$17.5 million in funding at below-market rates, alongside other organizations, to help get a US$100-million solar project \u2014 Uzbekistan\u2019s first \u2014 off the ground.<\/p>\n<p data-async=\"\">Once that hurdle was cleared, one of the co-investors then helped get a second solar project going at more than double the size, with fewer concessions. Soon after, a wind energy project went ahead without any discounted funding at all.<\/p>\n<p>The funding model is meant to help make those difficult early projects happen and clear the way for more to come, said Nnamdi Igbokwe, director of thought leadership at Convergence.<\/p>\n<p>\u201cThat\u2019s why blended finance has become so important, because it\u2019s a mechanism that allows the mobilization of the private sector in a way that otherwise they would basically be precluded.\u201d<\/p>\n<p>Convergence, a Toronto-based group focused on increasing the use of blended finance, found the model was used for US$18.3 billion in climate funding last year, up from US$8 billion a year earlier.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment1825800138533268809141139049283584\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Importantly, the total included six deals of more than a billion dollars each.<\/p>\n<p>\u201cWe\u2019re starting to see a smarter use, and a more efficient use, of catalytic capital to where billion-dollar deals are becoming more of a consistent thing,\u201d Igbokwe said.<\/p>\n<p>That\u2019s important, because to take a bite out of global funding targets in the trillions, there needs to be a steady stream of billion-dollar deals, said Igbokwe.<\/p>\n<p>But ramping up the model is far from easy.<\/p>\n<p>Blended finance adds layers of complexity to funding deals. The public concessions come in a range of options, from lower interest rates to agreeing to be the first to take on any losses, all of which has to be negotiated on top of the regular commercial terms.<\/p>\n<p>The risk perception of the projects and countries also make it hard for many private banks to invest at all, because regulations limit what kind of lending risk they can take on.<\/p>\n<p>There\u2019s also not enough sharing of data about how past projects have performed, said Igbokwe, which could help change those risk perceptions.<\/p>\n<p>And then there\u2019s the challenge of finding projects that are promising enough, and big enough, to invest in, but that don\u2019t quite meet the threshold for conventional financing.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment3459826088713763057315481271664640\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Altogether, these barriers have made the model ramp up much slower than Convergence and others had hoped.<\/p>\n<p>\u201cIt\u2019s pretty complex,\u201d said Susan McGeachie, chief executive of the Global Climate Finance Accelerator.<\/p>\n<p>Part of the problem is that each deal is so customized that it\u2019s hard to apply the terms to the next one, so it\u2019s slow-going, she said.<\/p>\n<p>But it\u2019s still \u201cenormously helpful\u201d to help fill the funding gap, and if it wasn\u2019t hard, blended finance wouldn\u2019t be necessary.<\/p>\n<p>\u201cThe whole point is to address that market gap. So if it becomes standardized, any of the concessional players should have exited and gone to something else that address a new market gap,\u201d said McGeachie.<\/p>\n<p data-async=\"\">She noted that it\u2019s not just useful abroad. There is also potential for Indigenous communities and climate projects at home, as Canada makes better use of publicly funded lenders like the Canada Infrastructure Bank.<\/p>\n<p>BMO, for example, has partnered with the public bank to offer lower-cost loans for office building retrofits to reduce emissions.<\/p>\n<p>Others, though, are concerned about the fixation on using private markets, and are pushing for much greater direct lending to public projects from public banks.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment698562422421137334231009603878912\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cWe\u2019ve seen market-based mechanisms fail again and again and again,\u201d said Susan Spronk, an associate professor focused on international development at the University of Ottawa.<\/p>\n<p>Spronk helped found a group pushing against the use of blended finance, concerned by the poor track record of water privatization and other efforts to profit off some of the world\u2019s poorest people.<\/p>\n<p>While renewable energy has a more straightforward business case, making profits on adaptation projects like flood barriers and wildfire prevention is far from straightforward.<\/p>\n<p>There\u2019s increasing focus around adaptation efforts, including the FinDev platform that has earmarked 70 per cent towards it, but Spronk is concerned blended finance isn\u2019t suited to the task.<\/p>\n<p>\u201cIt is doomed to be a very expensive way to try to do a climate transition.\u201d<\/p>\n<p>David Bhamjee, chief strategy officer at FinDev, said in a statement that the fund will help meet demand for blended finance and show others how to replicate the success.<\/p>\n<section aria-labelledby=\"moreTopicLabel9929025986282783759526065820663808\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" 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width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Princeton ends ban on fossil fuel firms funding research<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" oil=\"\" and=\"\" gas=\"\" financing=\"\" an=\"\" option=\"\" rbc=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=5&sig=C9yEI3492mxK2jj3j_G6Zw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=5&sig=C9yEI3492mxK2jj3j_G6Zw&ssl=1&w=100&resize=100&ssl=1 100w, 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https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=5&sig=C9yEI3492mxK2jj3j_G6Zw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bay Street in Canada's financial district is shown in Toronto on March 18, 2020. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=80&sig=rxjq0SkYYobuG_CPg7Sdtg\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=5&sig=C9yEI3492mxK2jj3j_G6Zw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=96&strip=all&quality=80&sig=rxjq0SkYYobuG_CPg7Sdtg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=192&strip=all&quality=80&sig=ogrRHwkK_-xSCQs5IinONA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/06\/0614-bc-banks-.jpg?h=288&strip=all&quality=80&sig=ixxARdq9jZZJlrsmp7kikA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Stopping oil and gas financing &#8216;not an option&#8217;: RBC<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Many others like McKenna maintain there simply isn\u2019t enough government funding to go around, so it\u2019s important to figure out how to make these private deals work, even in challenging circumstances.<\/p>\n<p>\u201cPeople are going to have to really work hard to find the solutions, and to make sure the money isn\u2019t just going to easy places.\u201d<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>How public funds attract private dollars for climate financing<\/a><br \/>\n<br \/>2024-11-25 13:18:23<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Finance News There&#8217;s an increasing push for blended finance, which uses public dollars to sweeten the financials of a project Author of the article: The Canadian Press&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/secure.gravatar.com\/avatar\/3b4b4027b86b17a99d4f891e09e22130?s=70&d=mp","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-53213","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53213"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53214"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}