One of this century’s biggest challenges is achieving economic growth that lifts people out of poverty while dramatically reducing environmental harm. To avert major and irreversible consequences of climate change, which disproportionally hurt the world’s most disadvantaged, climate finance must increase five-fold by 2030, reaching at least USD 5.9 billion. Technologies, businesses, and development models that can address this challenge exist, but they require support to be successfully implemented in ways that scale up and achieve economy-wide transformation. Established in 2014, the Global Innovation Lab for Climate Finance is a network of some of the world’s largest investors that identifies, develops, and launches transformative and sustainable financial solutions and businesses. The Lab has launched 68 initiatives that have mobilized over $3.5 billion in sustainable investment. We want to scale up this proven approach to more regions and sectors to rapidly expand innovative, sustainable development where it is needed most.
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