The Global Innovation Lab for Climate Finance (the Lab) aims to drive billions of dollars of private investment to the low-carbon, climate resilient economy in developing countries by identifying, developing, and supporting transformative sustainable finance ideas. A public-private partnership that includes over 60 institutions, the Lab brings together and catalyzes broader government and private sector efforts to scale up finance to mitigate climate change and enable climate adaptation in developing countries – in four years, Lab instruments have mobilized over USD $1.28 billion in sustainable investment.
With support from the P4G network, the Lab aims to launch a sub-Saharan Africa Innovation Lab for Climate Finance (the Africa Lab), drawing upon the Lab’s established process, expertise, and investor base, while partnering with local experts and investors, as well as key regional host institutions for the Africa Lab, including the Development Bank of Southern Africa (DBSA), FONERWA, and the International Fund for Agricultural Development (IFAD), to crowd-source, develop and launch transformative financial solutions that address key barriers to sustainable investment in sub-Saharan Africa.
As a step toward the establishment of the Africa Lab, in partnership with IFAD, the Lab will launch a stream in 2018 focused on developing and scaling up innovative new financial instruments focused on sustainable investment in climate resilience for smallholder farmers in Central and West Africa.
Through the launch of this new Lab stream, and the successes of existing Lab instruments which are already channeling investment into sustainable development in sub-Saharan Africa, the Lab aims to build momentum among partners and funders, with P4G’s facilitation support, to launch the Africa Lab in 2019.