The United Kingdom and the Philippines have launched a new international initiative aimed at increasing the flow of global capital into emerging markets. Unveiled at the 4th International Conference on Financing for Development (FFD4) in Seville, the EMDE Public Markets Coalition is part of the broader Sevilla Platform for Action on Public Markets Mobilisation for Development. The initiative seeks to harness a portion of the $255 trillion in global public equity and bond markets and redirect it toward critical development projects in emerging markets and developing economies.
Currently, only a small share of global public market investments reaches countries like the Philippines. The coalition aims to change this by developing a practical Toolkit to guide development banks, financial institutions, and investors in channeling climate and development-related investments through public markets. This effort is expected to significantly increase the availability of funding for sustainable infrastructure and climate resilience in emerging economies.
The Government of the Philippines has endorsed the coalition and co-hosted the launch event at FFD4. It will also play a key role in the initiative’s implementation. Co-implementation partners include the Government of Norway and the African Development Bank (AfDB), with further endorsements from governments and institutions such as the Netherlands, New Zealand, Switzerland, the Inter-American Development Bank, the Asian Development Bank (ADB), the OECD, British International Investment (BII), and the Centre for Development Finance Studies (CDFS).
The UK’s MOBILIST programme—which supports companies in emerging markets to access capital through stock listings—provides a foundation for the coalition’s strategy. In 2024, MOBILIST invested $12.5 million in the IPO of Citicore Renewable Energy Corporation in the Philippines. This investment helped catalyze the $86 million IPO and attracted further institutional investment, demonstrating the potential of public markets to fund sustainable development in emerging economies.
