MUFG-supported climate loan fund secures initial $600 million in funding
Climate Finance Initiative: MUFG has co-founded a climate finance platform that has raised $600 million to support developing countries in adapting to climate change and reducing emissions, with a goal to reach $1.5 billion.
Focus on Adaptation Projects: The GAIA Climate Loan Fund will allocate at least 70% of its funds to adaptation projects like sustainable agriculture and water management, while the remainder will support mitigation efforts such as renewable energy.
Impact Goals: The fund aims to benefit 19 million people, create over 11,000 jobs, and avoid 30 million tons of greenhouse gas emissions annually once fully deployed.
Private Sector Engagement: Discussions are ongoing with institutional investors, including insurance companies and pension funds, to attract private sector capital for climate adaptation initiatives.
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