Deadline: December 26, 2022
Applications are invited for the Global Innovation Lab for Climate Finance 2023. The Lab is looking for innovative finance solutions that can unlock investment to tackle some of the most difficult climate and sustainable development challenges and investment opportunities for a net zero economy.
Proposed sustainable finance vehicles should offer returns for private investors, create jobs and other local economic benefits, sustain biodiversity, improve climate resilience, and decrease emissions.
- Selected ideas will receive guidance and support from high-level leaders from both the public and private sectors, who contribute expertise, political capital, and financial capital to the instruments.
- Selected ideas will also benefit from robust analysis, stress-testing, and development by Climate Policy Initiative’s team of experts.
- Individual entrepreneurs, public institutions, development finance institutions, private sector, and civil society (NGOs, think tanks, academics) are all welcome to submit ideas.
- Successful past proponents have included large institutions from the public and private sectors, as well as start-ups, entrepreneurs, boutique fund managers, and NGOs.
- The Lab’s call for ideas is open to all innovators in the sustainable finance space.
Successful ideas are selected by Lab Members and other experts based on the following criteria.
- Actionable: Identifies the type of entity(ies) that could implement it, the pathway towards implementation, including the timeframe, activities, and key milestones, and possible challenges to implementation and related management strategies.
- Innovative: Demonstrates the ability to address, directly or indirectly, barriers to private climate finance that have not yet been addressed or that will be addressed more effectively compared to other instruments in the market.
- Catalytic: Demonstrates potential to mobilize private climate capital within a sizeable market, be scaled up or replicated in other contexts and achieve socioeconomic, development, and environmental impacts.
- Financially Sustainable: Identifies a strategy to phase out public financial support, thereby achieving market viability and possible challenges to achieving its intended objectives and related management strategies.