- The Global Innovation Lab for Climate Finance will support a record 10 solutions in 2024.
- The 2024 Lab cycle will feature five regional programs and four global themes to unlock climate investment in emerging markets.
- Two new regional Lab programs – Latin America and the Caribbean and the Philippines – have been created to support mitigation and adaptation ideas.
- The Lab will also launch its first-ever stream dedicated to protecting high-integrity forests.
San Francisco, 17 Oct 2023 – The Global Innovation Lab for Climate Finance (the Lab) launched today an open call for innovative solutions to address barriers to climate investments in emerging markets while supporting a net zero economy transition. The Lab will select ten ideas to develop in 2024. The deadline for submissions is December 27. Apply here.
2024 will mark the Lab’s tenth anniversary, and the upcoming class is set to be the largest ever. The Lab is introducing two new regional programs — one in Latin America and the Caribbean and another in the Philippines — and launching a new thematic stream targeting high-integrity forests.
The Lab, an initiative of over 70 public and private investors and institutions, accelerates solutions to drive private investment at scale and support sustainable development goals in emerging markets. Created in 2014, the Lab has launched 68 instruments that have collectively mobilized over USD 3.5 billion.
“We are thrilled to announce the Lab’s most prolific Call for Ideas to date, targeting a wide array of barriers to climate investment across the adaptation and mitigation spectrum. We are particularly excited about our new themes and regions – supporting adaptation and the low-carbon transition in Latin America and the Caribbean, driving nature-based solutions in the Philippines, and finding financial solutions to protect the world’s remaining high-integrity forests.”
Ben Broché, Climate Policy Initiative’s Associate Director who leads the Lab’s efforts
The five regional programs are:
- Brazil: Finance solutions to drive funds for the country’s national climate priorities.
- India: Innovative solutions providing concrete solutions to the unique financing challenges to investment in green sectors.
- East and Southern Africa: Innovative climate finance instruments that target any sector and will be implemented in any country from the Southern African Development Community (SADC) and the East Africa Community (EAC).
- Latin America and Caribbean: Two ideas, one each targeting:
- Adaptation: Ideas aiming to channel investment into building systemic climate resilience and responding to growing climate risk in LAC.
- Mitigation: Solutions seeking to leverage the LAC’s potential to lead a green energy transition.
- Philippines: Solutions focusing on blended finance and financial innovation in nature-based solutions.
The four global themes are
- Agriculture and Food Systems: Solutions that accelerate and scale up climate and nature finance for businesses and organizations in the sector.
- Climate Adaptation: Innovative financial instruments that resolve market barriers and support scale-up of private finance for solutions that build climate resilience.
- High-Integrity Forests: Innovative finance solutions focused on monetizing high-integrity forests across emerging economies, based on the Forest Landscape Integrity Index.
- Open Idea/Climate Mitigation: Scalable renewable energy solutions (especially energy access), low-carbon transit, buildings, industrial sectors, and/or the just energy transition and the phase-out of coal and fossil fuel.
The Lab will host four informational webinars covering the application process, selection criteria, and the Lab process:
About the Lab
The Global Innovation Lab for Climate Finance identifies, develops, and launches innovative finance instruments that can drive billions in private investment to action on climate change and sustainable development. Bloomberg Philanthropies, the United Nations Development Programme, and the governments of Canada, Germany, the United Kingdom, and the United States fund the Lab’s 2024 programs. Climate Policy Initiative serves as the Secretariat and analytical provider.