Partnership Canada

Gates Foundation Logo

DFAT Logo Hi-res

CPI Logo

Convergence Logo

CCFF Banner

A partnership between Climate Policy Initiative (CPI) and Convergence focused on scaling sustainable climate finance by providing grant funding and dedicated acceleration services to early-stage and market-ready financial solutions.

A partnership between Climate Policy Initiative (CPI) and Convergence focused on scaling sustainable climate finance.

The Catalytic Climate Finance Facility (CC Facility) is focused on scaling sustainable climate finance by providing market acceleration services to early-stage and market-ready blended financial vehicles in under-financed sectors in developing countries. It is a partnership between Climate Policy Initiative and Convergence.

The CC Facility aims to be a climate finance field builder, playing a key role in mainstreaming investment in climate action, with an emphasis on gender responsiveness and local capacity, by increasing the available pipeline of bankable climate blended finance solutions. It addresses a market need and gap in the development process of financial vehicles occurring in the acceleration stages by providing a full suite of tools to scale solutions faster.

Climate solutions will be supported through a strategic and bundled package of grant funding and customized technical assistance to address key barriers preventing the development and mobilization of private capital.

*Application submission will open for the next cycle on March 20, 2024. Learn more about the CC Facility, including the application process and eligibility and evaluation criteria, [here](https://www.convergence.finance/ccfacility/details).*

## A PARTNERSHIP BETWEEN: {#partners}

![CPI Logo](//images.ctfassets.net/4cgqlwde6qy0/3EMIkYcBooxbeBMbvkdxLm/ed8dfcf58093025be36d4450bc6b511d/CPI_logo_RGB_transparent.png)
![Convergence Logo](//images.ctfassets.net/4cgqlwde6qy0/7tkKcIOHnezEYQfBt0dJef/dfe87c436fa2fa2527a8ae96a6b91306/Convergence_logo_official.jpg)

## About Climate Policy Initiative

CPI is an analysis and advisory organization with deep expertise in finance and policy. Our mission is to help governments, businesses, and financial institutions drive economic growth while addressing climate change. CPI has six offices around the world in Brazil, India, Indonesia, the United Kingdom, and the United States.
CPI serves as the Secretariat for the Global Innovation Lab for Climate Finance (the Lab), an incubator program that develops innovative financial mechanisms to drive private investments into climate change mitigation and adaptation in developing economies.

## About Convergence

Convergence is the global network for blended finance. On top of market acceleration through its Design Funding program, Convergence generates blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. Convergence’s global membership includes over 160 public, private, and philanthropic investors as well as sponsors of transactions and funds.

Convergence’s Design Funding Program operates as a market acceleration tool providing early-stage capital to support blended finance solutions in frontier markets and nascent sectors to accelerate the number of investible transactions in market targeting SDGs.

## Anchor Donors

![Partnership Canada](//images.ctfassets.net/4cgqlwde6qy0/1sBm3ZExhB60xMVtbuYtP0/152d0144dc6d33b77ea59073de607b1b/MicrosoftTeams-image.png)
![Gates Foundation Logo](//images.ctfassets.net/4cgqlwde6qy0/4CMOb8OfN592I8du68mY1C/a82d32172525478f5e8a8ec4c4c37464/MicrosoftTeams-image__2_.png)
![DFAT Logo](//images.ctfassets.net/4cgqlwde6qy0/a9nZTeYWsT2ieVd6Oj2Xi/f0436cb6366b20fe03f26c565566902b/DFAT-australian-government-stacked-black.png)

The Catalytic Climate Finance Facility (CC Facility) is a partnership between Climate Policy Initiative (CPI) and Convergence focused on scaling sustainable climate finance by providing grant funding and dedicated acceleration services to early-stage and market-ready financial solutions in sectors that are severely under-financed in developing countries.

A partnership between Convergence and Climate Policy Initiative (CPI) focused on scaling sustainable climate finance.

Bill & Melinda Gates Foundation

Global Affairs Canada Logo

Global Affairs Canada

Australian Department of Foreign Affairs and Trade

*San Francisco, Toronto, December 1st, 2023* – The [Catalytic Climate Finance Facility](http://ccfacility.org/) (CC Facility) has secured CAD 1.5 million in funding from the International Development Research Centre (IDRC) to launch its innovative Learning Hub. This investment will kickstart a knowledge-sharing platform to generate and disseminate new evidence on best practices in mobilizing private capital for climate action in developing economies, focusing on sustainable development, just energy transition, gender equality, and local capacity.

“Local knowledge is essential to develop effective climate finance solutions that meet the needs of the communities most affected by climate change,” said __Erin Tansey, director of IDRC’s Sustainable Inclusive Economies program__. "We are thrilled to support the CC Facility's Learning Hub as part of IDRC's CAD 18.4 million investment into 12 clean energy research projects spanning 27 global South countries over the past 2 years intended to bridge the knowledge gap between policymakers and investors."

Launched in May, the CC Facility accelerates the implementation of high-impact, ready-to-scale financial structures through a suite of services that include grant funding, technical support, and a market-building learning hub. It is managed as a partnership between [Climate Policy Initiative](https://www.climatepolicyinitiative.org/) (CPI) and [Convergence](https://www.convergence.finance/), two global leaders in blended and climate finance. 

With an initial pool of USD 12 million raised prior to the IDRC award, the CC Facility will announce its first cohort this week during COP 28. The CC Facility continues to fundraise for a second round of USD 10 million by September 2024 as it moves toward its goal of reaching USD 100 million in size over the next few years.

“We are grateful to IDRC for their support of the CC Facility Learning Hub,” said __Joan Larrea, Convergence’s CEO__. “The Learning Hub will play a critical role in filling information gaps on critical climate finance issues and potential blended finance solutions. We believe the emphasis on bringing out local voices and building local capacity will be a strength of this program.”

The Learning Hub will enhance the CC Facility’s knowledge base and expertise, helping it to develop and implement more effective and efficient programs. Drawing on CPI and Convergence’s extensive data collection and research efforts, the Learning Hub will contribute to accelerating the implementation of financial vehicles, mobilizing private capital, and achieving socioeconomic and environmental impacts.

“The Learning Hub efforts will highlight the business case for commercial and concessional investors to accelerate their deployment of climate finance, especially in the global south,” said __Barbara Buchner, CPI’s Global Managing Director__. “It will also support CC Facility’s grantees and capital providers and the broader climate finance ecosystem, including practitioners leading the development of blended finance structures.”

The Learning Hub’s next steps are to develop a Learning Agenda to guide its goals and activities. Initial thematic priorities will include just energy transition, gender equality and social inclusion, and climate finance acceleration. The research will contribute to building knowledge on how mobilizing private capital for energy access and the energy transition can deliver an impact on gender and social inclusion outcomes, and will incorporate southern-based research institutional perspectives.

__About the Catalytic Climate Finance Facility__

The Catalytic Climate Finance Facility (CC Facility) accelerates the implementation of high-impact, ready-to-scale financial structures through a suite of services that include grant funding, technical support, and a market-building learning hub. The CC Facility fills a market gap and reduces market fragmentation to mobilize private capital for climate action in developing economies. The CC Facility is a partnership between Climate Policy Initiative and Convergence.

__About the International Development Research Centre (IDRC)__

As part of Canada’s foreign affairs and development efforts, the International Development Research Centre (IDRC) champions and funds research and innovation within and alongside developing regions to drive global change. IDRC invests in high-quality research in developing countries, shares knowledge with researchers and policymakers for greater uptake and use, and mobilizes global alliances to build a more sustainable and inclusive world.

__About Convergence__

Convergence is the global network for blended finance. On top of market acceleration through its Design Funding program, Convergence generates blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. Convergence’s global membership includes over 160 public, private, and philanthropic investors as well as sponsors of transactions and funds.

Convergence’s Design Funding Program operates as a market acceleration tool providing 
early-stage capital to support blended finance solutions in frontier markets and nascent sectors to accelerate the number of investible transactions in market targeting SDGs.

__About Climate Policy Initiative__

CPI is an analysis and advisory organization with deep expertise in finance and policy. Our mission is to help governments, businesses, and financial institutions drive economic growth while addressing climate change. CPI has six offices around the world in Brazil, India, Indonesia, the United Kingdom, and the United States.

CPI serves as the Secretariat for __the Global Innovation Lab for Climate Finance__ (the Lab), an incubator program that develops innovative financial mechanisms to drive private investments into climate change mitigation and adaptation in developing economies. 

__MEDIA CONTACTS__

Karolyn Xie 
Head of Communications 
Convergence Blended Finance 
karolyn.xie@convergence.finance 

Júlio Lubianco 
Communications Manager 
Climate Policy Initiative 
julio.lubianco@cpiglobal.org

Catalytic Climate Finance Facility launches Learning Hub with CAD 1.5 Million grant from IDRC

Catalytic Climate Finance Facility launches Learning Hub

*San Francisco and Toronto, May 9, 2023* – The Catalytic Climate Finance Facility (CC Facility) launched today an open call for early-stage and market-ready blended climate finance vehicles seeking grant funding and technical support for scaling up. With an initial size of USD 12 million, the CC Facility has plans to increase its funding up to USD 100 million. The CC Facility is a partnership between Convergence and Climate Policy Initiative (CPI), two global leaders in blended and climate finance. 

The CC Facility will select promising solutions to launch and scale through grant funding and dedicated acceleration services to sectors that are severely under-financed in developing countries. There is a special call for ideas targeting climate adaptation for agriculture in Sub-Saharan Africa and South Asia.

“Given the urgency of the latest IPCC report, it is clear that we must develop quality climate solutions that can be launched to market quickly and ensure money is flowing into these projects,” said CPI Global Managing Director Dr Barbara Buchner. “Our approach to the CC Facility draws on over two decades of combined experience from Convergence and CPI, continuing our efforts to bridge the acceleration gap and help scale up solutions faster.”

With funding from three anchor donors, Bill & Melinda Gates Foundation, Global Affairs Canada, and Australia's Department of Foreign Affairs and Trade, the CC Facility targets one of the main barriers in the development process of a climate blended finance idea: the acceleration stage, when solutions face a critical valley of death, taking longer to resume operations due to a lack of support. 

“The CC Facility intends to create investible deal pipeline for mainstream investors by supporting concepts at the acceleration stage,” said Convergence CEO Joan Larrea. “We will leverage the expertise of our two organizations to help early-stage, market-ready solutions scale up quickly, navigate potential pitfalls, and maximize their impact in a changing economic landscape.” 

Convergence and CPI have been working on the investment pipeline issue for years through their respective innovative finance programs, [Design Funding](https://www.convergence.finance/design-funding) and the [Global Innovation Lab for Climate Finance](https://www.climatepolicyinitiative.org/the-programs/the-global-innovation-lab-for-climate-finance/) (the Lab), pushing investible, scaled structures into the market. However, these initiatives are more focused on the earlier stages of the development process, addressing the design and incubation side of the spectrum. The CC Facility is a continuation of this work and a critical next step for solutions to achieve scalability. It aims to be an ecosystem builder and play a key role in mainstreaming climate action, with an emphasis on gender responsiveness and local capacity. 

“Helping developing countries fight climate change and adapt to its effects is critical. This will need both public and private sectors to work together and invest. This initiative will focus on innovative, high impact actions in the areas of clean energy, climate-smart agriculture, and nature-based solutions. Canada is proud to support this initiative and help mobilize the investments needed to urgently fight climate change and build resilience to its effects,” said Cam Do, Director General of Innovative and Climate Finance, Global Affairs Canada.

Concept notes must be submitted on Convergence’s website by June 9 and will be reviewed on a rolling basis.

__About Convergence__

Convergence is the global network for blended finance. On top of market acceleration through its Design Funding program, Convergence generates blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. Convergence’s global membership includes over 160 public, private, and philanthropic investors as well as sponsors of transactions and funds.

Convergence’s Design Funding Program operates as a market acceleration tool providing early-stage capital to support blended finance solutions in frontier markets and nascent sectors to accelerate the number of investible transactions in market targeting SDGs.

__About Climate Policy Initiative__

CPI is an analysis and advisory organization with deep expertise in finance and policy. Our mission is to help governments, businesses, and financial institutions drive economic growth while addressing climate change. CPI has six offices around the world in Brazil, India, Indonesia, the United Kingdom, and the United States.

CPI serves as the Secretariat for the Global Innovation Lab for Climate Finance (the Lab), an incubator program that develops innovative financial mechanisms to drive private investments into climate change mitigation and adaptation in developing economies. 

__MEDIA CONTACTS__

__Sijia Yi__ 
Head of Communications 
Convergence Blended Finance 
sijia.yi@convergence.finance 
+1(647) 573-5993

__Júlio Lubianco__ 
Communications Manager 
Climate Policy Initiative 
julio.lubianco@cpiglobal.org 
+55 21 96463-7061

__Sam Goodman__ 
Communications Associate 
Climate Policy Initiative 
sam.goodman@cpiglobal.org 
+506 8833 7435

The Catalytic Climate Finance Facility (CC Facility) launched today an open call for early-stage and market-ready blended climate finance vehicles seeking grant funding and technical support for scaling up. 