The World Bank is collaborating with a club of 15 finance executives, including BlackRock's Larry Fink and AXA SA's Thomas Buberl, through the Private Sector Investment Lab (PSIL) to reduce investment risks in climate projects in emerging economies. The PSIL aims to create a securitisable asset class that will attract deep-pocketed investors like BlackRock and large pension funds. This initiative is part of the World Bank's efforts to mobilize funds for addressing climate change and facilitating the transition to clean energy.