GCF Private Investment for Climate Conference 2019: Some takeaways
Tags: adaptation, blended finance, business models, catalytic capital, climate resilient, consultancy, de-risking, developing countries, E Co., future-proofing, gcf, GCF private sector, GPIC2019, Green Climate Fund, investment, low carbon, mitigation, risk, scaling up, systemic change
The GCF Private Investment for Climate conference 2019 provided a three-day platform for the Private Sector Facility (PSF) to engage with several hundred private sector actors, including institutional investors. Our role as participants was to progress thinking and action on de-risking, scaling-up and venturing into new territories for low-carbon and climate-resilient investment in developing countries. The role of catalytic capital was discussed extensively along with new business models that address systemic change rather than single solutions, and blueprints that address market barriers leading to a paradigm shift.
According to the GCF, “As of October 2019, 25 private sector projects have been approved for GCF resources amounting to USD 2.2 billion and mobilizing an additional USD 7 billion in co-financing. The associated mitigation portfolio is expected to reduce 1.1 gigaton of CO2 equivalent, while the adaptation portfolio is expected to reach 47 million beneficiaries.”
Watch our round-up video of the conference, detailing key discussion points from the event, including:
- Adaptation – call for the private sector to invest more in adaptation
- Risk – the need for more scientific evidence-based risk
- Scale – scale of replication and the need for more project based accreditation
- Pipelines – new portfolios coming out for sustainable opportunities
- Future-proofing – examining supply chain vulnerabilities
- Blended finance & PPPs (Properly Prepared Proposals)
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