CPI at COP23: Accelerating global investment to address climate change
November 14, 2017
Bonn, Germany – November 14, 2017 – Following the release of its Global Landscape of Climate Finance 2017 report, Climate Policy Initiative is hosting or speaking at a series of events at COP23, bringing together climate finance experts and high-level leaders to share lessons learned about unlocking finance to address climate change.
Findings from Landscape 2017, a global analysis which presents policy makers with the most comprehensive information available about the scale, key actors, instruments, recipients, and uses of finance supporting climate change mitigation and adaptation, will be presented by CPI experts at events throughout COP23.
The study, which for the first time provides a five-year trend analysis, shows that more money than ever before, USD 410 billion annual average, was invested in low-carbon and climate-resilient actions during 2015 and 2016. However, the authors found that there are still significant challenges in mobilizing the investment required to meet the Paris Agreement goal of limiting global warming to, at most, 2 degrees Celsius.
Given the urgent need to tackle climate change, governments are looking to use public resources to mobilize far greater private investment. The Lab, managed by CPI, is part of broader government and private sector efforts to scale-up climate finance. In just three years, programs including the Global Innovation Lab for Climate Finance and its sister initiatives, the India Lab, Brasil Lab, and Fire Awards, have successfully identified, developed, and supported actionable interventions to scale up climate finance. These interventions have mobilized $977 million for mitigation and adaptation projects in developing countries in just three years.
In fall 2017, the Lab launched a new class of sustainable finance instruments after nearly a year of vetting and development by a high-level group of investors and policy makers. These instruments represent transformative finance solutions for renewable energy, climate-smart agriculture, and adaptation.
Announced on Monday, November 13, 2017 Global Lab instrument CRAFT, the first dedicated commercial investment vehicle to focus on expanding the availability of technologies and solutions for climate adaptation and resilience, will receive $1.6 million in funding from Nordic Development Fund and the Global Environment Facility.
The Lab is also currently accepting ideas for its 2018 cycle, seeking proposals that can unlock billions in sustainable investment. The deadline to submit an idea is November 28, 2017. Selected ideas will benefit from robust analysis, stress-testing, and development by Climate Policy Initiative’s team of experts, as well as guidance and support from high-level leaders who contribute expertise, political capital, and financial capital to the instruments. Interested parties can learn more and submit their idea at www.climatefinancelab.org.
To view the full list of events that CPI is hosting and/or participating in, please visit CPI at COP23.
Climate Policy Initiative works to improve the most important energy and land use policies around the world, with a particular focus on finance. An independent analytical and advisory organization, CPI has offices and programs in Brazil, China, Europe, India, Indonesia, and the United States.
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