Climate Finance Access Network
What Is CFAN?
The Climate Finance Access Network (CFAN) aims
to support developing countries in securing and structuring finance for climate investments. By cultivating a network of highly trained, embedded climate finance advisors, CFAN will build the capacity of developing countries to more quickly access climate finance and achieve their climate objectives. CFAN will offer services to all developing countries with a focus on Least Developed Countries, Small Island Developing States, and African countries.
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 bottleneck impairing the efficient flow of climate finance to low-income countries. Informed by market surveys and demand assessments, CFAN is a program that responds to real world challenges identified by developing countries. Following on its leadership role in designing CFAN, RMI will initially serve as network coordinator, building on and enhancing the impact of existing climate finance initiatives.
The Climate Finance Access Network supports developing countries in securing and structuring finance for climate investments.
Prime Minister Justin Trudeau has announced that Canada will contribute CA$9.5 million to the Climate Finance Access Network to support developing nations in accessing funding to fight climate change.
105 respondents from 45 developing countries completed a survey aimed at assessing demand for Climate Finance advisors, identifying priority activities for advisors, and describing the profile of the advisor. Those results can be explored here.
In response to a clear demand signal from developing countries struggling to access climate finance, a group of organizations has convened to establish the Climate Finance Access Network (CFAN), which will increase the number and caliber of in-country climate finance advisors.
RMI Introduces the Climate Finance Access Network at COP25, 2019
Market Testing a Climate Finance Access Service, 2018