World Bank Launches Climate Business Innovation Network
The World Bank and partners launched a Climate Business Innovation Network at the Marrakech Climate Change Conference in Morocco.
The Network brings together over 30 foundations, donors, businesses, investors, venture funds, universities and government agencies to help local businesses in twelve developing countries transition to clean technology and advance climate action.
It will allow climate technology businesses to access the expertise and know-how essential for implementing commitments inscribed in the countries’ Nationally Determined Contributions (NDCs).
16 November 2016: The World Bank and partners launched a Climate Business Innovation Network at the Marrakech Climate Change Conference in Morocco. The Network brings together over 30 foundations, donors, businesses, investors, venture funds, universities and government agencies to help local businesses in twelve developing countries transition to clean technology and advance climate action. It will support climate technology businesses with access to the expertise and know-how essential for implementation of commitments inscribed in the countries’ Nationally Determined Contributions (NDCs).
Linking small businesses to global sources of technology, finance and expertise, the Network will build local capacity that enables the countries to transition to clean energy and other climate-smart solutions. It will connect public and private organizations that will collaborate in providing advisory services, market connections and funding for growing clean technology businesses.
The Network will, inter alia: spread models to enable climate innovation; diffuse green business models; crowd-in global sources of finance for climate technology innovation; sponsor networking; and share local and global research and resources through a virtual platform.
The Network builds on the World Bank’s Climate Technology Program (CTP), a US$70 million initiative that catalyzes the growth of climate technology sectors in developing countries by strengthening local institutions that support small and growing businesses. CTP is supported by the UK’s Department for International Development, Australia’s Department of Foreign Affairs and Trade (Australian Aid), Denmark’s Ministry of Foreign Affairs (DANIDA), Norway’s Ministry of Foreign Affairs and the Netherlands’ Ministry of Foreign Affairs. [World Bank Press Release] [World Bank Blog Entry] [IISD RS Sources]