The Climate Finance Accelerator (CFA)
Project submission deadline: From May 16, 2022 to June 10, 2022.
For more information, download the document with detail of the call and project application format here.
Welcome
About CFA
The Climate Finance Accelerator (CFA) is a four-year technical assistance programme, funded by the UK Government's International Climate Finance in the Department for Business, Energy, and Industrial Strategy (BEIS). It responds directly to the urgency and scale of the climate crisis by supporting highly promising low-carbon projects to become more bankable and appealing to investors.
Project Initiation
The CFA Supports partner countries in identifying and engaging with a pipeline of low-carbon projects.
Project development
The CFA Supports project proponents, by enabling them to demonstrate feasibility of the project and develop bankable proposals.
Primary finance
The CFA improve connections between project proponents and financiers to identify primary project financing.
Secondary finance
The CFA helps build long-term capacity to enable project proponents to engage with institutional investors for refinancing of projects.
About CFA
The CFA target 3 climate finance challenges, with 2 prioritised
CFA for Project Developers
Supporting low-carbon projects
Preparing projects so they are attractive to investors can be a significant challenge, particularly when operating in an emerging economy. Often, low-carbon projects seeking finance are not in a suitable position to be considered a good investment by prospective financiers and project developers may struggle to access limited systematic support from project inception to completion. At the same time, regulations and policies can create blockages that prevent private capital from being released at the scale required to support low-carbon projects. The Climate Finance Accelerator (CFA) supports developers of projects in emerging economies that have the potential to significantly reduce emissions and contribute to sustainable development goals but have not been able to find finance in ‘traditional’ markets and are, therefore, likely to require ‘blended finance’ solutions.
Capacity Building
Project developers will gain valuable insights and develop capabilities to make projects attractive and ready for investors. These include benchmarking projects against what a bankable or successful project looks like, gaining confidence in communicating with financiers and learning how to structure project financing. Exchanges of best practice with other CFA countries will also be enabled.
Achieving low-carbon objectives
The CFA supports projects to realise and communicate their positive impacts. The CFA has access to climate, sectoral and social impact specialists, and can assist projects to support local and national climate ambitions. It can also help to unlock co-benefits (such as poverty reduction, improved gender equality and social inclusion, and tackling biodiversity loss).
Building networks and raising profile
Project developers will have the opportunity to raise their profile and expand their network with stakeholders across the climate finance landscape. This includes local and international financiers, policy makers, researchers and other private sector organisations, as well as with other project developers facing similar challenges. Access to a climate finance network will provide project developers with long-lasting benefits, such as progressing the development of current and future low-carbon projects.
Improving finance readiness
Project developers will have the opportunity to raise their profile and expand their network with stakeholders across the climate finance landscape. This includes local and international financiers, policy makers, researchers and other private sector organisations, as well as with other project developers facing similar challenges. Access to a climate finance network will provide project developers with long-lasting benefits, such as progressing the development of current and future low-carbon projects.
The CFA for National Policy Makers
Supporting policy makers in realising their climate ambition
An unprecedented scale of climate action is required this decade. Realising the ambitions of countries’ NDC requires collaboration across a wide-range of national and international stakeholders to support different levels of governance, identification of and access to suitable financing, and implementing incentive mechanisms.
Whilst, the CFA has been designed to support developers of projects that have the potential to significantly reduce emissions and contribute to the realisation of NDCs and Sustainable Development Goals (SDGs), it is also set-up to provide recommendations to improve the enabling environment in each of our partner countries.
Landscape mapping insights
The CFA utilises the know-how of climate change, climate finance and gender equality and social inclusion experts to develop detailed reports about the demand and supply of climate finance in each country. The reports provide key insights for policy makers and highlight the gaps in financing at different stages of the climate finance investment chain, thereby highlighting opportunities for change in the enabling environment.
CFA project contribution to NDCs and SDGs
The CFA targets relatively large and ambitions projects. All the projects the CFA provide capacity building to have positive climate mitigation impacts and contribute to a variety of sustainable development goals. These contributions are summarised in a document which can be used by policymakers to show contribution to country pledges and provide lessons to other similar projects.
Engagement with financiers and project proponents
The CFA provides policy makers with a unique opportunity to engage with both project proponents and domestic and international financiers, both during the delivery of capacity building and at our events, thereby helping stakeholders better understand each other’s needs and barriers and foster long term relationships.
Embedding the CFA in the country’s ecosystem
We work with countries that recognise the benefits the CFA can bring to accelerate access to climate finance and have the desire to continue delivering the CFA activities beyond the programme operation. Policy makers are engaged throughout the selection of an institution with the appropriate mandate and capacity to ensure country ownership and legacy.
CFA in the world
United Kingdom
Global Program
leader team.
Mexico
CFA Mexico led by
IDOM.
Colombia
CFA Colombia led by PWC and Grupo E3,
Ecology, Economy and Ethics.
Peru
CFA led by South North and Libelula.
Turkey
CFA Turkey led by Ekodenge.
Nigeria
CFA Nigeria led by Adam Smith,
South Africa
CFA South Africa led by NBI and GreenCape.
Egypt
CFA Egypt led by NBI and GreenCape.
Pakistan
CFA Pakistan
CFA Pakistan
The delivery partner for CFA Pakistan is DAI. CFA Pakistan will convene a wide variety of stakeholders in the country, including project developers (entrepreneurs, start-ups, small and medium enterprises), banks and other finance providers, as well as government representatives
Priority Stakeholders
There are three priority stakeholder groups for the CFA in Pakistan to engage with:
Important Dates and Timeline
CFA Pakistan’s preliminary timeline
CFA Launch
26 July 2022Call For Proposals
29 July 2022Long List
08 August 2022Short List
22 August 2022Capacity Building Activities
19 sep - 19 DecIn-country Event
26 December 2022Delivery Policy-maker Roundtable
09 December 2022Projects
Following the call for proposals phase, 10 projects will be selected through a phased approach.
Selection Process:
Prerequisites: Selection of projects that meet criteria
Criteria:
Our Team
Eldana Djumalieva
Project Director, DAI (UK)
Khurram Lalani
Team Leader
Ahsan Chughtai
Sustainable Finance Expert
Farzeen Zaidi
Communications Expert
Ishrat Babar
GESI Expert
Anus Miftah
Low Carbon Project Development Expert
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Following the call for proposals phase, 10 projects will be selected through a phased approach.
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Pakistan NDCs and Climate Priorities
The Government of Pakistan is working on strategies for climate action and determining associated investment needs. The climate action is based on key national policies such as the 2021 Nationally Determined Contributions (NDCs), the 2021 National Climate Change Policy (NCCP), and the 2021 National Adaptation Plan. The NDCs set a conditional target of an overall 50% reduction of emissions between 2015 and 2030 relative to business as usual, with a 15% reduction using the country’s own resources, and an additional 35% subject to international financial support. The NDC’s emission reduction focus is on four sectors: energy, including transport; industrial processes and product use (IPPU); AFOLU; and waste; but the document also covers adaptation, health, ecosystems and blue economy priorities. Quantitative targets are set for energy (by 2030, 60% of all energy will be from renewable resources including hydropower) and transport (by 2030, 30% of all new vehicles sold will be electric vehicles). There is also a moratorium on new coal plants and no generation of power through imported coal shall be allowed. The Ten Billion Tree Tsunami afforestation program remains a flagship government initiative. Qualitative targets exist in AFOLU and waste. It is not yet clear whether Pakistan will ratchet its NDC in 2022 as called for in the Glasgow Climate Pact. Further, the National Adaptation Plan incorporates medium and long-term climate change concerns into national policies, strategies, and programs. Three adaptation areas have been shortlisted for priority action through the adaptation lens, namely nature-based solutions, land-use change and forestry, and community infrastructure.
Preliminary, Pakistan’s climate goals require $101 billion just for energy transition. The country’s climate adaptation needs range between $7 billion and $14 billion a year. Given that the GDP of Pakistan is around $284bn (2020), there needs to be a significant enhancement of both, international climate finance as well as private sector financing. Pakistan has secured project funding from the Global Environment Facility (GEF) and the Green Climate Fund (GCF) for mitigation and adaption projects (along with GCF readiness support), as well as the Adaptation Fund, the NAMA Facility, World Bank and Asian Infrastructure Investment Bank. However, the scale of investments is not adequate for Pakistan to meet the revised NDC targets.
