Climate Finance for Development Accelerator
In November 2021, USAID announced an ambitious goal of mobilizing $150 billion in private and public finance by 2030. This finance will support a variety of climate change mitigation and adaptation outcomes and support the implementation of country-driven and UN-assisted Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs).
The Climate Finance for Development Accelerator is a signature tool USAID will use, combined with other mechanisms and actions, to accomplish its climate finance, mitigation, and adaptation goals. The Accelerator will serve as a platform for partnerships that draws on evidence, mobilizes finance for critical climate priorities, and puts new and local partners in the driver’s seat for both a short-term, locally led COVID-19 recovery and a longer-term just transition that empowers diverse stakeholders to spearhead equitable solutions. The Accelerator will directly support the U.S. Government’s Climate Strategy targets and Presidential Initiatives, such as the President’s Emergency Plan for Adaptation and Resilience (PREPARE) and the Plan to Conserve Forests. The Accelerator will apply comprehensive social and environmental safeguards to all activities while also prioritizing investments that increase inclusion and equity.
To achieve its ambitious targets, the Accelerator will catalyze financing towards a variety of climate change mitigation and adaptation projects, supporting nature-based solutions, transition to clean energy and net-zero emissions, and adaptation of climate resilient business practices.