The Global Innovation Lab for Climate Finance (the Lab) launched six innovative finance solutions to drive private resources to climate action in developing economies.
After a thorough process of analysis, development and stress-testing, these solutions are ready to channel investment towards a net zero economy.
The Global Innovation Lab for Climate Finance identifies, develops, and launches innovative finance instruments that can drive billions in private investment to action on climate change and sustainable development. The Lab is funded by the Dutch, German, Swedish, and UK governments, as well as the Rockefeller Foundation. Climate Policy Initiative serves as Secretariat.
Created in 2014, the Lab has a portfolio of 55 instruments and celebrates USD 2.5 billion milestone in finance mobilized for climate action in developing economies.
New instruments seek to unlock USD 380 million in climate finance for sustainable energy access, food systems, and urban infrastructure. This Lab cohort also includes instruments with a regional focus on Brazil and Southern Africa.
Virtual Demo Day will showcase solutions to investors on October 20.
Abyd Karmali, Managing Director, Environment, Social and Governance Client Advisory at Bank of America – “The private sector must deploy and mobilize trillions by 2030 to accelerate the transition to a low-carbon, sustainable economy. This year’s class of Lab instruments, like years prior, demonstrate the need to scale investment and mobilize more capital to drive clean technology and innovation for a net zero future.”