Solving the climate challenge requires significant investment. Research shows, however, that the private sector – which provides the lion’s share of current investment in climate action – faces specific barriers to scaling up finance in developing countries.
The Global Innovation Lab for Climate Finance (The Lab) is a public-private partnership that identifies, develops, and launches innovative climate finance instruments. Less than two years in, The Lab has made significant progress. Four pilot instruments designed to address specific barriers in energy efficiency, renewable energy, and adaptation have attracted nearly USD 200 million in initial, public funding and are poised to mobilize billions of additional private finance, generating real change on the ground in key climate change sectors.
This COP 21 side event brought together representatives of The Lab, donor governments, and the pilot instruments. These experts shared progress and lessons learned relevant to governments at COP21 and other entities who are working to driving climate finance in developing countries at scale, with a Q/A discussion from audience members.
Moderator: Barbara Buchner, Senior Director of Climate Policy Initiative, Lab Secretariat
- Paul Bodnar, Senior Director for Energy and Climate Change, National Security Council, The White House
- Ruurd Brouwer, CEO, TCX – The Currency Exchange Fund
- Mr. Christian Pilgaard Zinglersen, Deputy Permanent Secretary, Danish Ministry of Energy, Utilities and Climate
- Abyd Karmali, Managing Director, Climate Finance at Bank of America Merrill Lynch
- Lord Bourne of Aberystwyth, Parliamentary Under Secretary of State for Climate Change and Parliamentary Under Secretary of State for Wales
U.S. Center, UNFCCC Conference of Parties 21, Paris, France
15:45-16:45, December 9, 2015