Mirova, an affiliate of Natixis Investment Managers specializing in sustainable finance, is focusing on relationships with development finance institutions (DFIs) to expand the use of blended finance for impact finance in emerging markets. We have created a new position.
The role aligns with Mirova's strategic plan to double its private equity assets by 2030 and accelerate the financing of high-impact environmental and social impact solutions in Africa, Latin America and Asia-Pacific. .
Milova aims to achieve this by developing a blended financing strategy aimed, inter alia, at financing energy transition infrastructure projects and natural ecosystem restoration and conservation projects.
To support this, we have appointed Sebastián Duque as Head of DFI Relations.
Zineb Bennani, Mirova's global head of business development, said Duque's experience and relationships with development banks will be “very helpful in raising more funding for projects with high environmental and social impact in emerging countries.” It's precious,” he said.
Mr. Duque has been with Mirova since 2022 following the acquisition of Mirova Sanfunda, a specialist in climate change investments in emerging markets, where he was responsible for business development.
Duque previously served as chief investment officer and deputy managing director at impact management firm Symbiotics, and earlier in his career led PlaNIS, which merged with responsesAbility in 2010.
At responsAbility, he was responsible for fixed income investments in Eastern Europe, the Middle East, the Caucasus and Central Asia. Over 10 years, he was involved in a total of 73 transactions, primarily in the banking sector in France and emerging markets.
Blended finance is a key focus for some in sustainable finance, such as the Net Zero Asset Owners Alliance, which believes that scaling up blended finance will help address climate change and invest in currently unsupported market segments. We have identified it as one of the most efficient ways to reduce risk. It has a risk and return profile that attracts large institutional investors.
At COP28, Danish mutual pension company Veliv called for more blended finance tailored to the risk profile of institutional investors.
Duque said DFIs are “essential to promoting access to low-carbon energy and accelerating efforts to protect and restore ecosystems, as they effectively act as catalysts to increase private sector investment in emerging economies.” There is,” he said.
Earlier this month, Milova announced that Gigaton Fund 1, a blended finance bond fund aimed at accelerating the transition to clean energy in emerging markets, has raised $282 million (€259 million) to date. (including a $75 million commitment from the European Investment Bank).
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