#Climate Finance #Singapore #Global Capacity #Ecosperity Week

Global Capacity Building Coalition Unveils Accelerator for Climate Finance Initiatives

During the highly anticipated Ecosperity Week 2025, held in Singapore, Mary L. Schapiro, the president of the Global Capacity Building Coalition (GCBC), made a significant announcement that is set to influence climate finance positively. The GCBC has officially introduced its inaugural Accelerator, aimed at identifying, celebrating, and supporting high-potential capability development projects that mobilize sustainable financing. This initiative seeks to bridge the investment and capability gap predominantly seen in emerging markets and developing economies (EMDEs).

The GCBC Accelerator is designed to cater to organizations, partnerships, or programs dedicated to capacity building aimed at EMDEs. It provides a valuable platform for applicants to showcase their strategies and efforts toward advancing climate financing, which is critical for accelerating the energy transition.

Addressing the Financing Deficit

Emerging markets and developing economies, excluding China, are grappling with an annual financing gap of nearly $2.5 trillion required for sustainable development. It is anticipated that approximately half of this funding must derive from mobilizing local resources. This scenario presents a transformative opportunity for growth within these regions. Strengthening the capacity of local financial institutions and professionals is crucial to unlocking this investment potential.

Mary L. Schapiro elaborated on the mission of the Accelerator, stating that "emerging markets and developing economies need access to the tools, resources, and support necessary to accelerate the transition to clean energy. This Accelerator program is designed to bolster innovative efforts that enable capacity development, drive economic opportunities, and build resilient and sustainable economies."

Tailored Support for Selected Initiatives

The GCBC is set to offer tailored support to selected Accelerator initiatives, which will include expert advice, communications and marketing assistance, facilitation of partnerships, and practical operational support for capacity development activities. The selected candidates will be announced during the New York Climate Week in September 2025, underlining the importance of recognizing and promoting impactful capacity-building efforts within the climate finance ecosystem.

Conclusion

The launch of the GCBC Accelerator is expected to prompt regional and global organizations to enhance their initiatives on capacity building, thereby unlocking opportunities that expedite investment in the transition to sustainable practices in EMDEs. With the application deadline set for July 4, 2025, the call to action for innovative projects and collaborations has never been more urgent.

The Global Capacity Building Coalition, formed during COP28 in December 2023, aims to accelerate and expand the capacity development of climate finance through collaboration among many leading global organizations committed to combating climate change.

For further details and to apply, interested parties can visit the official GCBC website.

About GCBC

The Global Capacity Building Coalition (GCBC) is a pioneering global initiative that brings together major funding organizations working to combat climate change. Its mission focuses on enhancing collaboration and responding to the increasing demand for capacity development support from EMDE financial institutions, thereby aligning with UN objectives and the G20’s Task Force on Sustainable Finance.

For additional inquiries or to express interest in joining the coalition, please contact [email protected].