accelerator NDC POLICY TO PROJECT PIPELINE: A PROGRAMMATIC APPROACH Findings from the inaugural Climate Finance Accelerator
Concept originators and advisers Tessa Tennant and Ian Callaghan
CLIMATE FINANCE ACCELERATOR
Kindly funded by
Climate Finance Accelerator The first Climate Finance Accelerator workshop matched government, finance and capital market players from selected countries with project and green finance experts. The consortium that delivered the workshop brings together the combined finance and climate policy expertise of Ricardo Energy & Environment, PwC and climate finance specialists and concept originators Ian Callaghan and Tessa Tennant. For more information visit https://ee.ricardo.com/events/climate-finance-accelerator-london-2017 This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, the authors and distributors do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Copyright 2017. All rights reserved. In this document, ‘Ricardo Energy & Environment’ refers to the trading name of Ricardo-AEA Limited and ‘PwC’ refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
CLIMATE FINANCE ACCELERATOR
Department for Business, Energy and Industrial Strategy, UK
Green Finance Initiative It is clear that climate change, left unmitigated, represents a significant material risk to our economy
As global policy makers and financiers work to mobilise
today. It is a monumental, global challenge that
sufficient private climate finance to convert the pledged
requires a transition to a low carbon economy that
billions to the required trillions, the quest for an equally
must be successfully implemented – and financed.
appropriate volume of demand-led yet bankable lowcarbon investment opportunities remains incomplete.
Mobilising private capital and making financial
The UK government is proud to be a founding
achieve national environmental objectives.
markets more climate sensitive will be necessary to
supporter of the inaugural Climate Finance
Bringing financiers and country governments
Accelerator initiative as we support the innovative
together is key to accelerate getting good projects
technical assistance-based model it offers as a means
to market. The CFA is a powerful example of creating
of bridging this divide and helping to raise the
a productive dialogue between financiers and
ambition of countries that were partnered to take part – Colombia, Mexico, Nigeria and Vietnam.
countries, focused on tangible ‘deal’ opportunities
Partnering countries were given the exciting
world’s key hubs for connecting demand and supply
that can be scaled. The City of London, as one of the of green finance, was pleased to host and support the
opportunity to collaborate in the City of London
alongside the world leading financial services expertise that the UK has to share.
Sir Roger Gifford Chai