The SCCF is a fund open to all vulnerable developing countries, and supports a wide range of activities related to climate change. Helping the most vulnerable countries adapt The new SCCF project, also endorsed by the Climate Innovation Lab, will facilitate the completion of investment, impact, and fundraising strategies for CRAFT, support the identification and incorporation of 250 companies into the Fund’s database of climate resilience companies, and identify at least five high-probability potential investment transactions.ĬRAFT could mobilise as much as $500 million to invest in adaptation, acting as a stepping stone towards catalysing a broader market for climate resilience solutions and investments, and provide direct benefits to reduce the vulnerability of businesses and communities through building resilience. It will go a long way to help us start mobilising the resources to finance the needed solutions.” “As pressure mounts to find new and innovative sources of climate finance, this effort is a promising and paradigm-shifting approach to scaling up finance for climate change adaptation. Conservation International, as the GEF Implementing Agency, is pleased to be part of this partnership,” said Shyla Raghav, CI’s Climate Change Lead. “Many of the most cost-effective solutions for building resilience to the impacts of climate change come from nature itself. “This funding demonstrates the public sector’s commitment to working with the private sector to address the critical problem of climate change and its recognition of Lightsmith’s unique combination of investment expertise and government experience.” “Given their leadership in climate finance, GEF and NDF are ideal partners for this effort to launch the first private sector climate adaptation and resilience investment strategy,” said Sanjay Wagle, Managing Director of The Lightsmith Group.
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