Founded in 2014, The Global Innovation Lab for Climate Finance is a public-private initiative that identifies, develops, and pilots innovative financial instruments that can drive billions in private investment in climate action in developing countries. The Lab was endorsed by the G7 in 2015 and has catalyzed over 500 million in seed funding for projects in Colombia, Mexico, and Rwanda, among others. On 27 June 2016 in London, Lab Advisors and Principals met to review 2015-2016 instruments, endorse their technical design, and indicate future backing. Principals endorsed four pilot-ready instruments to unlock investment in climate adaptation and mitigation in developing countries:
- the Climate-Smart Lending Platform will bring together the tools, actors, and finance necessary to reduce climate risk in lending portfolios and scale up climate-smart lending to smallholders around the world;
- the Energy Efficiency Enabling Initiative will mobilize equity finance and deploy technical assistance for energy efficiency in developing countries;
- the Oasis Platform aims to provide access to transparent and standardized analytics to improve understanding and management of risks in regions vulnerable to extreme climate-related events; and
- the Water Financing Facility will mobilize large-scale domestic private finance and strengthen water utilities in countries subject to climate-related water stress.