#USA #Climate Finance #Singapore #Global Capacity Building Coalition #Ecosperity

Global Capacity Building Coalition Launches Climate Accelerator

At the forefront of tackling climate finance challenges, the Global Capacity Building Coalition (GCBC) has announced its groundbreaking Accelerator initiative during Ecosperity Week 2025. Introduced by Mary L. Schapiro, the GCBC Chair, this initiative aims to amplify and scale high-potential projects that focus on developing sustainable finance capacities in emerging markets and developing economies (EMDEs).

Addressing Significant Investment Gaps

Amidst escalating climate challenges, EMDEs face an alarming annual financing gap of about $2.5 trillion for sustainable development. This daunting figure highlights the urgent need for innovative solutions that leverage and mobilize domestic resources, as approximately half of the required funding is anticipated to stem from local initiatives. The Accelerator is set to bridge the existing gaps by enhancing the capabilities of financial institutions and professionals within these markets.

A Call for Innovative Approaches

The GCBC Accelerator opens doors for organizations and partnerships dedicated to capacity building for EMDEs. It encourages applicants to showcase their unique approaches across three distinct categories: mobilizing sustainable finance, building climate capabilities, and fostering innovation. This structured approach ensures that all initiatives aiming at advancing climate finance will receive the necessary recognition and support they deserve.

Mary Schapiro emphasized the significance of such support, stating, "Emerging markets and developing economies need access to the tools, resources, and support necessary to accelerate the clean energy transition. The Accelerator program is designed to identify and scale innovative efforts that support capacity-building, drive economic opportunity, and help build more resilient, sustainable economies."

Tailored Support and Resources

Selected initiatives under the Accelerator will benefit from tailored support ranging from expert advisory services to communications and marketing assistance. The GCBC will facilitate partnerships and provide practical operational support to ensure these capacity-building activities can thrive. The cohort of selected applicants is expected to be announced during New York Climate Week in September 2025, marking a significant milestone for innovators in the climate finance landscape.

Emphasizing Collaboration

The initiative represents a collaborative effort of leading climate finance organizations coming together to bolster capacity building for financial institutions in EMDEs. Such support aligns with the objectives of major global platforms, including the UN and the G20 Sustainable Finance Working Group (SFWG).

The GCBC was originally launched at COP28 by U.N. Secretary-General's Special Envoy on Climate Ambition and Solutions, Michael R. Bloomberg, highlighting its importance in the global transition towards sustainable and climate-resilient economies.

Application Process

Organizations interested in applying for the accelerator initiative must submit their applications by July 4, 2025. The focus of applications should center on initiatives aimed at addressing the pressing challenges associated with climate finance in EMDEs.

Conclusion

The launch of the GCBC Accelerator not only presents a momentous opportunity for innovative projects but also serves as a clarion call for all stakeholders in the climate finance community to collaborate and advance sustainable finance initiatives. The GCBC’s commitment to amplifying impactful capacity-building projects could very well pave the way for a more sustainable future.