Catalytic Climate Finance Facility
The Catalytic Climate Finance Facility (CC Facility) accelerates the implementation of high-impact, ready-to-scale financial structures, filling a market gap in mobilizing private capital for climate action in developing economies. The initiative is a partnership between Climate Policy Initiative and Convergence, who are combining their expertise to turn innovative financial vehicles into scalable solutions, to increase the available investable pipeline and grow the climate finance market.
The CC Facility accelerates the implementation of climate finance solutions by offering grant funding of up to USD 500,000, customized technical support over 12-18 months, and knowledge-sharing resources through a learning hub. The initiative aims to be an ecosystem builder and address a market need in scaling blended finance structures and catalyzing capital for climate change.
The facility has raised USD 13 million to date and is fundraising for a second round of USD 10 million by Q3 2024. The goal of the initiative is to reach USD 100 million in size over the next few years.
Catalytic Climate Finance Facility awards USD 2.4 million to inaugural class of blended finance vehicles
The Catalytic Climate Finance Facility (CC Facility), a partnership between Climate Policy Initiative (CPI) and Convergence, today announced its first class of six market-ready blended finance vehicles. The CC Facility will grant the selected class USD 2.4 million to test, structure, launch, and expand solutions.
The Catalytic Climate Finance Facility has secured CAD 1.5 million in funding from the International Development Research Centre (IDRC) to launch its innovative Learning Hub. This investment will kickstart a knowledge-sharing platform to generate and disseminate new evidence on best practices in mobilizing private capital for climate action in developing economies, focusing on sustainable development, just energy transition, gender equality, and local capacity.
Convergence and CPI launch USD 12 million Catalytic Climate Finance Facility to accelerate the implementation of climate finance solutions
The Catalytic Climate Finance Facility (CC Facility) launched an open call for early-stage and market-ready blended climate finance vehicles seeking grant funding and technical support for scaling up. Applications must be submitted by June 9.