Latin America. The Global Innovation Lab for Climate Finance — Lab has opened a call for proposals for innovative solutions that address barriers by limiting climate investments in emerging markets, while supporting a transition to sustainable economics.
The deadline to apply is December 26, 2022, at 5:00 p.m. PT, and the new class will be announced in March 2023. Present your idea.
The selected ideas will receive seven months of design and structuring of financial mechanisms, market analysis and support in relations with investors and strategic partners by leading institutions in the public and private sectors and the team of experts of the Climate Policy Initiative.
For the new class of 2023, the Lab is seeking six climate finance ideas, of which three will have a thematic focus and three will be geographically oriented. The six available slots are listed below.
Thematic and/or sectoral approach (proposals accepted from any country)
* Climate adaptation: financial instruments that resolve market barriers and promote private investment in mechanisms that increase climate resilience.
* Gender equality: financial instruments whose main objective is the advancement and integration of gender equality and climate change mitigation or adaptation.
* Open idea: financial instruments that address barriers to sustainable investment in any climate-relevant sector in emerging economies.
Geographical focus
* Brazil: financial instruments that drive investment in the country's national climate priorities.
* India: financial instruments supporting infrastructure development to create new renewable energy sources, energy transition and other channels for green growth.
* Eastern and Southern Africa: financial instruments targeting any sector and applied in any country, or group of countries, in the Southern African Development Community (SADC) and East African Community (EAC) regions.
The selected ideas must meet four criteria: innovation, capacity for action, catalytic potential and financial sustainability. Likewise, the proposal must be aligned with the value offer of the Lab. Eligible applications must present sustainable financial mechanisms that offer attractive returns for private investors, while generating jobs and economic benefits, improving climate resilience and/or reducing emissions.
On November 29, the Lab will be holding an information session (register here) on the application process for the call for ideas for the Lab 2023 class. The session will present case studies from previous cycles and will have a question and answer segment. The Lab will also host an information session in Portuguese on November 30 (register here).
"We are always ready to face new challenges. We are excited about the new thematic area of gender equality, which will allow the Lab to continue exploring the intersection between inclusion and climate finance," said Lab Associate Director Ben Broché. "We are also excited about expanding our geographic focus on Africa, which now includes countries in the East African Community, leveraging existing local investor connections already developed in the rest of the continent Lab."
The Lab, an initiative of more than 70 investors and public and private institutions, accelerates investment solutions to support sustainable development goals in emerging markets. Created in 2014, the Lab has launched 62 instruments that have collectively mobilized more than $3.3 billion.
