Report

Accelerating and scaling up climate innovation. How the Green Climate Fund’s approach can deliver new climate solutions for developing countries. Green Climate Fund working paper No.4.

November 1, 2022

2021, by Yannick Glemarec for GREEN CLIMATE FUND, NOVEMBER 2021. Investment in new climate solutions is hampered by a range of barriers. This Working Paper first identifies the main barriers to climate innovation in developing countries, focusing on each stage of the innovation chain, from the emergence of innovation to its deployment and eventual widespread adoption.

The paper then outlines the Green Climate Fund’s four-pronged approach to overcome these barriers and to accelerate and scale up climate innovation in developing countries:

  1. Establish a conducive policy and institutional environment for novel climate solutions;
  2. Catalyse climate innovation by piloting new technologies, business models, financing instruments and practices to establish proof of concept;
  3. Use scarce public resources to de-risk early investments that will establish a commercial track record for new climate solutions and crowd-in private finance;
  4. Accelerate the widespread adoption of commercially proven climate solutions by enhancing the capacity of domestic financial institutions to originate and access capital markets to finance climate investments.

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