Climate Finance Access Service
What Is CFAS?
A Climate Finance Access Service (CFAS) could substantially improve the capacity of low-income countries to unlock funding for green investment. The initiative would deploy a network of trained, independent climate finance investment professionals into Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African countries to help secure finance for these countries’ priority projects pursuant to Paris Agreement commitments and the Sustainable Development Goals. Over the course of their two-year assignments, climate finance facilitators would serve as the connective tissue between recipient countries and public funding institutions.
Although the volume of climate finance flowing from developed to developing countries has increased substantially over the past decade, the system for delivering and accessing finance has become highly complex. While larger developing economies may have the ability to navigate this system, most small or low-income countries lack sufficient capacity to do so, resulting in a systemic bottleneck that is mutually frustrating for recipient and donor countries: climate finance that has been mobilized but not accessed.
What We’re Doing
The Climate Finance program has investigated the choke point of human capacity that is impairing the efficient flow of climate finance to low-income countries. Through a six-month market survey, RMI conducted interviews with 75 expert stakeholders from developing countries, climate finance funds and institutions, and related climate finance initiatives and has used this market input to craft the Climate Finance Access Service. We are building a consortium to take the idea forward.