Climate finance Climate Investment Funds (CIF)
Their goal is to finance transformative action for climate change mitigation and adaptation in developing countries and emerging economies. Financing gaps are to be closed and innovative solutions piloted. The CIF is the only multilateral climate fund that exclusively employs multilateral development banks as implementing organisations.
The CIF comprises two funds: the Clean Technology Fund (External link) (CTF) and the Strategic Climate Fund (External link) (SCF).
Clean Technology Fund (CTF)
The CTF helps middle-income countries introduce low-carbon technologies harbouring great potential for emissions reduction. Fields in which the Fund invests include renewable energies, energy efficiency improvement, low-emission transport, energy storage technologies and the socially equitable phase-out of coal.
Strategic Climate Fund (SCF)
The SCF provides financing for piloting innovative approaches or scaling up activities aimed at specific climate change challenges or sectoral responses. A range of programmes serves to trial new approaches with the potential to exert a transformational effect. Areas eligible for investment include forest conservation, nature-based solutions to combat climate change, actions to boost resilience to the adverse effects of climate change, and the expansion or grid integration of renewable energies with a focus on low-income countries.
Since the CIF’s establishment 15 countries have contributed some eleven billion US dollars. With an overall contribution of 910 million euros, Germany is one of the largest donors. Through its targeted programmes (External link) the CIF has supported more than 375 projects in 72 countries.
As at: 29/09/2023