South Africa-Capital Markets Climate Initiative
The Capital Markets Climate Initiative (CMCI) is a public-private initiative designed to support the scale up of private finance flows for low carbon technologies, solutions and infrastructure in developing economies by:
- Developing a common understanding amongst policy makers of why and how public sector action can help mobilise private capital and encourage new markets in low carbon investments
- Demonstrating the potential impact of public sector action by developing and testing tailored financial and policy tools in specific partner country case studies to mobilise private capital
This work is led by the UK Department of Energy and Climate Change and delivered through a high-level Steering Group and two Working Groups which include key decision makers from UK Government and some of the most significant institutions in the finance and investment sectors.
- WORKING GROUP 1: Chaired by Anglia Ruskin University, has developed a set of principles for policy makers to enable a common understanding of what constitutes ‘investment grade policy’, with the aim of leveraging climate-friendly private finance. A set of Working Draft principles will be published in early 2012 for comment, discussion and testing amongst stakeholders.
- WORKING GROUP 2: Chaired by the World Economic Forum, has fostered partnerships with developing country governments to evaluate barriers, and then design and test new financing models to address these challenges in country, with the aim of scaling up private capital flows. The exact focus and support provided by CMCI will be tailored to partner-country contexts and opportunities.