Climate Investor Two (CI2) is Climate Fund Managers second blended finance facility, delivering water, waste and oceans infrastructure projects in emerging markets. Established in 2019, the fund reached its final close in 2025 with USD 1.065 billion in commitments, becoming the largest climate adaptation infrastructure fund focused on emerging markets.
CI2 employs a mix of public and private-sector funding as well as commitments from development finance institutions (DFIs), all in mutually beneficial and complementary ways.
Public-sector donors fund the development stage of the projects, which typically cannot be financed by private-sector investors. Donors also play a key role in mobilizing private-sector capital during the construction stage of the project, where risks are better understood and financial returns can be achieved.
Building on the comprehensive support of the Government of the Netherlands, including the Ministry of Foreign Affairs through the Dutch Fund for Climate and Development, commercial investors (KLP, IMAS Foundation, Sanlam, Aegon), Dutch public sector bank BNG Bank, a development finance institution (FMO), and Donors (European Commission and Nordic Development Fund), have committed to being the cornerstone support for CI2.
Clean power is central to the impact of the Renewable Energy focused Climate Investor One. The current clean power impact of Climate Investor One is created by seven operational projects, while the lifetime forecast considers all the assets over the 20 year lifetime of the fund.
Building Futures: Education Facilities for Bukatube Seed School
Creating a healthy learning environment in Rural Vietnam
Empowering Rural Youth in South Africa with Renewable Energy Skills and Entrepreneurship
Bio2Watt is a platform of Waste-to-energy projects located in Southern Africa. The first operational project is located in South Africa, near Johannesburg.
The Ecuador debt-for-climate swap aims to help finance the conservation of the Galapagos Islands, one of the planet's most important ecosystems
