#USA #Climate Finance #Singapore #Global Capacity Building Coalition #GCBC Accelerator

Launch of the GCBC Accelerator at Ecosperity Week 2025

On May 7, 2025, during the Ecosperity Week, Mary L. Schapiro, the chair of the Global Capacity Building Coalition (GCBC), officially inaugurated the GCBC Accelerator. This critical initiative is designed to spotlight and endorse high-potential capacity-building projects in the realm of climate finance, aiming to bridge the investment gap in emerging and developing economies (EMDEs) for sustainable initiatives.

The GCBC Accelerator is not just a program; it is a comprehensive approach geared towards empowering organizations, partnerships, and programs dedicated to enhancing capacities tailored to EMDEs. The Accelerator opens new avenues for applicants to present their innovative efforts aimed at catalyzing the climate finance necessary for the energy transition. Participants can submit proposals in three key areas: mobilizing sustainable financial resources, building climate competencies, and fostering innovative solutions.

Addressing the Funding Gap

Currently, emerging economies (excluding China) face an alarming annual financial gap of nearly 2.5 trillion USD for sustainable development. Approximately half of this funding is expected to arise from mobilizing domestic resources, representing a transformative opportunity for growth. Strengthening the capacities of local financial institutions and professionals is crucial for unlocking their investment potential. Unfortunately, resources for necessary capacity building are often fragmented, inaccessible, and unevenly distributed. The Accelerator aims to dismantle these barriers by highlighting and supporting the world’s most innovative and effective capacity-building initiatives, directing capital where it is most urgently needed.

Mary Schapiro emphasizes the necessity for EMDEs to gain access to the essential instruments, resources, and support required to accelerate their transition to clean energy. “The Accelerator program is designed to identify and promote innovative actions that support capacity building, foster economic opportunities, and contribute to developing a more resilient and sustainable economy,” she stated. The GCBC is keen on assisting financial institutions, civil society organizations, and other stakeholders actively working in this vital area.

Tailored Support for Selected Initiatives

The GCBC commits to offering tailored support to selected Accelerator initiatives, encompassing expert consulting, promotional assistance, partnership facilitation, and practical operational support for capacity building efforts. The announcements for selected applicants will be made during the New York Climate Week in September 2025. Through the recognition of these capacity-building efforts within the climate finance ecosystem and supporting their scaling and replication, the Accelerator aims to empower organizations and individuals to seize opportunities and accelerate investments for transitions across all EMDEs.

For detailed information about the Accelerator and the application process, potential candidates can refer to the GCBC website. Applications are open until July 4, 2025, at 11:59 PM ET.

Who is the Global Capacity Building Coalition?

The Global Capacity Building Coalition (GCBC) represents an unprecedented global initiative bringing together leading organizations focused on climate finance to enhance and expand capacity building for climate and transition finance for financial institutions and experts, specifically in EMDEs. The coalition aims to improve collaboration and respond to the growing demand for capacity-building support from financial institutions in developing countries, thereby achieving the objectives set by the UN and the G20 Sustainable Finance Working Group (SFWG).

Established under U.N. auspices, the coalition looks forward to having Michael R. Bloomberg, the Secretary-General's Special Envoy for Climate Ambition and Solutions, present along with leaders from multilateral development banks, financial institutions, and international organizations during COP28 in December 2023.

For those interested in joining the Global Capacity Building Coalition or supporting its work, further inquiries can be directed to [email protected].