Financing Climate Actions: Website Provides One-Stop Shopping
The Climate Finance Options (CFO) website is a comprehensive source of information for developing country policy makers on sources of climate finance. The website was created by the United Nations Development Progamme (UNDP) and the World Bank.
The website includes a searchable database of more than 60 funding sources available for adaptation and mitigation projects that reduce climate change impacts. The database is designed to help users evaluate project eligibility, learn about the funding source’s governance structure, and learn how to access the financing. The funding sources are searchable by eligible sector. For example, a search for ‘energy efficiency’ turns up funding sources such as the ADB Clean Energy Financing Partnership Facility and the Climate Finance Innovation Facility.
The website also includes a searchable database of case studies from around the world and across a range of sectors that have accessed climate finance resources successfully.
Two examples of building efficiency projects that have been financed include:
A three-year project in India to replace a total of 370 chillers with more efficient and ozone-friendly units leading to an estimated 13 MtCO2e reduction in GHG emissions over 20 years.
A project in Armenia to reduce GHG emissions from heating by helping condominiums procure heat and hot water services collectively at the building level, and by reducing use of electricity and unsustainably produced wood fuel.
In addition, the website includes a Knowledge Center that provides:
A Library containing useful documents on climate project financing developed by the World Bank Group, UNDP, and other expert bodies.
A Tools page with links to instruments designed to help project developers analyze prospective climate change projects.
A Glossary with clear explanations of the financial terms and concepts used throughout the site, and a list of acronyms.
Links to relevant information from climate institutions and expert organizations.
The CFO Platform now also hosts a series of User Communities where registered CFO Users can join collaborative discussions on urgent and interesting topics within climate finance.
Finally, a News section carries timely reports on events and developments in climate action and finance.