The Climate Finance Accelerator is a platform that connects project proponents and financial sector actors to develop a portfolio of quality, bankable climate projects. This program is designed to strengthen the knowledge and financial capacity of key actors in Colombia to catalyze blended finance mechanisms and attract capital market investments. This accelerator support Colombia in achieving its climate goals of reducing greenhouse gas (GHG) emissions to 51% by 2030 and achieving carbon neutrality by 2050.
This program is funded by the UK Department for Energy Security and Net Zero (DESNZ), and in Colombia it is led by PwC and Grupo E3 (E3-Ecología, Economía y Ética).
A Transformative Ecosystem
The Climate Finance Accelerator develops a portfolio of bankable projects and creates a collaborative space where financial institutions, investors, accelerators and government work together to develop innovative financial solutions, promoting blended finance and laying the foundation for a robust financial ecosystem.
Priority Sectors
The Climate Finance Accelerator primarily targets project developers and companies with the capacity to reduce GHG emissions and make progress towards Colombia’s Nationally Determined Contribution (NDC) targets. In line with the country’s decarbonization and adaptation priorities, the Climate Finance Accelerator selects projects in key sectors such as energy, transportation, and agriculture, forestry and other land use (AFOLU). These sectors offer high potential for reducing emissions and building climate resilience in the Colombian territory.
Collaborators
The entities that support the Accelerator have access to a portfolio of bankable climate projects and use their combined financial schemes to leverage the opportunities to make financial closures while reducing investment risks. In addition, they have the opportunity to train proponents in developing their financial cases, enabling them to mobilize investments for essential projects for the country.
Achievements
After three years of activity in Colombia, the Climate Finance Accelerator has achieved:
- Articulation with the National Climate Finance Strategy and the National Climate Finance Corridor, generating synergy among key actors with public sector platforms.
- Multi-sectoral collaboration with financial institutions, accelerators, investors and the government to promote innovative financing solutions.