Our State of Blended Finance 2024: Climate Edition has just been released! The report finds that the climate blended finance market saw its highest ever annual financing total in 2023, growing by 120% to $18.3 billion in aggregate investment from $8 billion in 2022. Notably the increase came from the private sector and commercial capital, as the amount of donor capital entering blended finance has stayed constant. The report offers an updated analysis on climate blended finance in emerging markets and developing economies (EMDEs), covering sectors, vehicles, regions, and investor trends. Read the full report to learn more: https://bit.ly/40nXNEg #blendedfinance #climate #climatefinance #developmentfinance #sustainablefinance #mitigation #adaptation #SDGs #emergingmarkets #climateaction
Convergence Blended Finance
Financial Services
Toronto, Ontario 20,783 followers
The global network for blended finance.
About us
CONVERGENCE is the global network for blended finance. We generate blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. BLENDED FINANCE uses catalytic capital from public or philanthropic sources to scale up private sector investment in emerging markets to realize the SDGs. Our GLOBAL MEMBERSHIP includes public, private, and philanthropic investors as well as sponsors of transactions and funds. We offer this community a curated, online platform to connect with each other on blended finance transactions in progress, as well as exclusive access to original market intelligence and knowledge products such as case studies, reports, trainings, and webinars. To accelerate advances in the field, Convergence also provides grants for the design of vehicles that could attract private capital to global development at scale.
- Website
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http://www.convergence.finance
External link for Convergence Blended Finance
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Toronto, Ontario
- Type
- Nonprofit
- Founded
- 2015
- Specialties
- Emerging and Frontier Markets, Blended Finance, Innovative Finance, Investor Matching, Market Data and Research, and Grant Funding
Locations
Employees at Convergence Blended Finance
Updates
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Our member UBS Optimus Foundation has partnered with the Global Fund for Coral Reefs Coalition, which aims to scale up efforts to protect critical marine ecosystems. The Global Fund for Coral Reefs (GFCR) aims to protect and enhance the resilience of 3 million hectares of coral reefs by 2030, covering 12.5% of the world’s remaining reefs. Learn more about the coalition below. #blendedfinance #blueeconomy #coralreefs #sustainablefinance #developmentfinance #COP16
We’re proud to announce our partnership and first contribution to the Global Fund for Coral Reefs Coalition, aimed at scaling up efforts to protect critical marine ecosystems. The work GFCR is doing across more than 20 coral reef states is pivotal to transitioning economies toward ones that safeguard biodiversity and coastal communities. From sustainable fisheries to innovative financing mechanisms like debt-for-nature swaps, blue carbon and reef credits, these are exactly the kinds of solutions that demonstrate how collaborative catalytic capital can create systemic change to address the problems of biodiversity loss and climate change. Learn more >> https://from.ubs/6040W3c12. #shareUBS #COP16
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We recently received funding from The Rockefeller Foundation to support our Asia Climate Solutions (ACS) Design Grant Window and the Catalytic Climate Finance Facility (CC Facility) Learning Hub, run in partnership with Climate Policy Initiative. This grant has a specific focus on enhancing local mobilization of private capital towards climate action in emerging economies in Southeast Asia where blended finance has the potential to mobilize new sources of capital facilitating long-term solutions and partnerships that will strengthen local capital markets and support vulnerable communities. Learn more: https://bit.ly/4hpFSmT The third cycle of the ACS Design Grant window is currently accepting applications. Learn more about the window and apply by November 22: https://bit.ly/3PbPt52 Monetary Authority of Singapore (MAS) Australian Department of Foreign Affairs and Trade The Olayan Group UBS Optimus Foundation #blendedfinance #climate #climatefinance #climateaction #developmentfinance #sustainablefinance #southeastasia
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Our Senior Advisor Heiner W. Skaliks attended the 2024 United Nations Biodiversity Conference of the Parties (COP16) in Cali, Colombia this week. The Conference brought together leaders from around the world to address the most pressing global challenges in biodiversity protection. The event was a key milestone in the implementation of the ambitious goals and 23 targets of the Kunming-Montreal Global Biodiversity Framework 2030, which includes, among other targets, protecting 30% of the world's land and seas by 2030, reducing harmful subsidies, and restoring degraded ecosystems. Learn more about COP16: www.cop16colombia.com COP16 Colombia #COP16 #COP16Colombia #biodiversity #peacewithnature #ecosystem
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Tomorrow at 9AM ET, join us as we launch our State of Blended Finance 2024: Climate Edition! We'll share the latest trends in climate blended finance, insights, recommendations, and more. The virtual launch will also include an expert panel discussion on the importance of NDCs in the global climate effort and how blended finance can help countries achieve them. Panelists: - Guly Sabahi, Senior Advisor, Climate Finance, NDC Partnership Support Unit - Randi Kristiansen, JETP Policy Lead, Glasgow Financial Alliance for Net Zero (GFANZ) - Dr. Olufunso Somorin, Regional Principal Officer, African Development Bank Group Register now: https://bit.ly/3BbJEzH #blendedfinance #climate #climatefinance #developmentfinance #sustainablefinance #NDCs
State of Blended Finance 2024: Climate Edition Virtual Launch
convergence.finance
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On November 4, Convergence in collaboration with PNUD Costa Rica, Sistema de Banca para el Desarrollo, and BIOFIN - Biodiversity Finance Initiative will be hosting a workshop in Costa Rica on applying blended finance to promote investments in biodiversity. During the event, our Senior Advisor Heiner W. Skaliks will also be providing a masterclass in blended finance to the participants. The workshop is designed for professionals in charge of designing financial instruments and mechanisms, and decision-makers in public institutions focused on sustainable use and management of biodiversity. Learn more and register below.
🌱 Impulsando inversiones para la naturaleza 🌱 Las finanzas mixtas representan un panorama de nuevas oportunidades para desbloquear el acceso al financiamiento privado y fomentar inversiones naturaleza positivas. El Blended Finance tiene el potencial de convertirse en un elemento clave para generar valor agregado y potenciar el acercamiento con el sector financiero y privado, en el marco de la actualización de la Estrategia Nacional de Biodiversidad de Costa Rica y la creación del Plan Nacional de Financiamiento para la Biodiversidad. 💼 Con una masterclass de Convergence, este primer taller tiene como objetivo generar un entendimiento común sobre las diferentes estrategias y combinaciones en estructura de recursos financieros para promover las inversiones en biodiversidad. 📊Dirigido a personas a cargo del diseño de productos financieros y/o personas tomadoras de decisiones de instituciones públicas vinculadas con biodiversidad. Link de inscripción al evento: https://lnkd.in/g37MJnEr A las personas inscritas se les confirmará su participación vía correo electrónico. Sistema de Banca para el Desarrollo, Convergence Blended Finance, BIOFIN - Biodiversity Finance Initiative
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Last week, our Senior Advisor Heiner W. Skaliks attended the 2024 B20 Summit in Sao Paulo, Brazil, which brought together business representatives from G20 countries, selected guest nations, and international organizations to discuss key economic and business issues. The theme for this year’s B20 Summit, “Inclusive Growth for a Sustainable Future,” steered the discussions of the seven Task Forces and the Action Council. This included the Finance & Infrastructure Task Force, of which Convergence is a network partner. The B20 Summit, held annually ahead of the G20 Summit, aims to provide private sector recommendations to G20 leaders on tackling global economic challenges. B20 Brasil Deloitte #B20SummitBrasil #sustainability #environment #sustainabledevelopment #latinamerica
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Exciting news! Our members Camco and the Green Climate Fund (GCF) have signed a $50 million funded activity agreement. The agreement positions GCF to participate in the upcoming first close of Camco's REPP 2 fund, which aims to leverage public and commercial funding towards investment in decentralized renewable energy projects in Sub-Saharan African countries. Learn more below. #blendedfinance #africa #SSA #renewableenergy #climate #climatefinance #developmentfinance #sustainablefinance
We are thrilled to announce the signing of a USD 50m funded activity agreement between Camco and the Green Climate Fund (GCF). It is the first time we have signed such an agreement with the GCF since becoming an Accredited Entity in 2021 and comes almost a year to the day since the GCF Board approved USD 50m for our REPP 2 fund. This latest development means that the GCF is now in a formal position to participate in the imminent first close of REPP 2, keeping our plans on track to achieve the milestone later this year. The GCF’s investment in REPP 2 will be a cornerstone of the fund’s blended finance structure, which is designed to leverage public and commercial funding to invest in decentralised renewable energy projects in Sub-Saharan African countries. Once launched, REPP 2’s aim will be to deliver significant climate, economic and gender impacts while ensuring sustainable returns for investors. 📷 The photo was taken at the official signing of the funded activity agreement at the GCF’s headquarters in South Korea earlier this week. From left to right: Levan Bakhutashvili, Legal Counsel, GCF; Neeraj Joshi, Climate Change Monitoring and Evaluation Specialist, GCF’s Division of Private Sector Facility (PSF); Kavita Sinha, Director, PSF; Geoff Sinclair, MD, Camco; Daniel Farchy, Climate Investment Manager, PSF; and Nestan Devidze, Climate Investment Officer, PSF.
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Earlier this week, our Senior Advisor Heiner W. Skaliks attended and presented at the "Navigating Sustainable Growth: Insights from the B20 Finance & Infrastructure Policy Paper" event hosted by Deloitte in Sao Paulo. The event focused on highlighting mobilization of private capital for climate investment projects, accelerating licensing processes for net-zero infrastructure, and strengthening the integration of SMEs into global value chains through financial inclusion and regulatory support. #climatefinance #climate #infrastructure #latinamerica #netzero
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