As nations work to address climate change, access to finance has emerged as a critical element particularly in developing countries, which are often unable to attract private investment to low-carbon and climate resilient activities.
The Global Innovation Lab for Climate Finance addresses this challenge by supporting the identification and piloting of cutting edge climate finance instruments that can drive billions of dollars of private investment into climate change mitigation and adaptation in developing countries..
In April 2015, Lab members, who include high-level experts from public and private institutions, endorsed the launch of the pilot initiatives after a year-long process supported by rigorous analysis to determine which instruments showed the most promise. The initiatives have collectively raised over USD 100 million in initial funding, with more expected to follow through an ongoing process that will draw on expertise and resources of additional Lab member institutions, as well as other private and public stakeholders.
The Phase 3 Instrument reports summarize analysis conducted by Climate Policy Initiative, as Lab Secretariat, to refine these initiatives and outline concrete implementation pathways. More information can be found at www.ClimateFinanceLab.org.