Momentum for Change: Innovative Financing For Climate-Friendly Investment

Mar 7th, 2013 | By | Category: Adaptation, Advocacy, Announcement, Development and Climate Change, Events, International Agencies, Lessons, News, UNFCCC, Vulnerability, Weather

UNFCCC: Developing countries are forecast to represent over 60% of global GDP by 2030.  However, given growing environmental and resource challenges such as climate change and water security, the imperative for shifting development onto a resource-efficient growth pathway is increasingly clear. Governments can use strategically targeted public monies and policies to address the risks faced by private investors, resulting in a significant increase in private capital flows for climate-friendly development.

Momentum for Change: Innovative Financing for Climate-friendly Investment recognizes successful financial innovations for adaptation and climate mitigation.  It showcases “lighthouse activities” which represent successful public-private financing mechanisms and approaches to support climate change adaption and mitigation activities.

The Momentum for Change: Innovative Financing for Climate-friendly Investment pillar will highlight activities that best meet the following basic criteria:

  1. The activity implies a strong collaboration between the public and private sector in a developing country;
  2. The activity has a focus on clean energy, transport, agriculture or other green growth areas with a longer term goal of achieving low-carbon growth;
  3. The activity is leveraging significant amounts of private finance;
  4. The activity helps to address some of the markets barriers and failures that have been identified in the country;
  5. The activity is scaleable, replicable and demonstrates elements of innovation.

Momentum for Change: Innovative Financing for Climate-friendly Investment is implemented in partnership with the World Economic Forum.

The first round of Momentum for Change: Innovative Financing for Climate-friendly Investment “lighthouse activities” will be showcased by the United Nations Climate Change secretariat at COP 19/CMP 9 in Warsaw, Poland.  Applications will be accepted beginning 12 April 2013.

More information on Momentum for Change: Innovative Financing for Climate-friendly Investment can be found in the pdf-icon press release (177 kB) .

More information on the launch event of Momentum for Change: Innovative Financing for Climate-friendly Investment during COP 18/CMP 8 can be found in the pdf-icon press release (116 kB) .

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