The Invest4Climate platform aims to further mobilize, coordinate, and deliver the finance needed to close the climate financing gap and help countries make the transition to a low-carbon resilient future that supports jobs and growth. It is a joint World Bank Group and partnership co-launched by the United Nations Secretary General and World Bank President in September 2017.
By leveraging the convening power of the World Bank Group and UNDP, Invest4Climate will bring together public and private stakeholders, including governments, private investors, development finance institutions, new infrastructure investment banks, philanthropic foundations and the insurance industry, to:
- Identify policy and regulatory barriers to scaled up investment and develop solutions and political support to address them;
- Facilitate the identification of project risks and allocation of these risks to those that can best manage them through financial structuring, including credit and guarantee facilities;
- Bring visibility to potential investments and identify opportunities for action; and
- Mobilize multiple sources and types of finance and risk mitigation instruments and combine them effectively to maximize deployment and impact.
These include for example the accelerated roll out of renewable energy, large-scale development of battery storage, electric vehicles, low-carbon air conditioning systems and the development of bond instruments.