The Climate Finance Accelerator (CFA) is a global technical assistance programme funded by the UK government to directly support climate projects to access finance. In Nigeria, the CFA brings together the key actors in the climate finance investment chain: project proponents and developers, finance providers, and policymakers.
The aim of this accelerator is to facilitate a collaborative approach to unlocking finance for climate projects at scale and creating a pipeline of ‘investment ready’ low carbon projects. The CFA also seeks to deliver several co-benefits, such as supporting a just transition and green recovery efforts from COVID-19 through inclusive approaches to sustainable development, improved gender equality, and building resilience to climate impacts.
Benefits of the Climate Finance Accelerator
- Access to investors: CFA Nigeria provides project developers greater opportunities to access finance by working directly with potential investors to understand their needs and develop their projects accordingly.
- Achieving low carbon project objectives: CFA Nigeria supports projects to realise and communicate their positive impacts. The team has access to climate, sectoral and social impact specialists and can assist projects to support local and national climate ambitions, as well as helping to unlock co-benefits such as poverty reduction, improved gender equality and social inclusion, and tackling biodiversity loss.
- Coaching and best practice insights
- Networking opportunities
- Increased visibility
- Be designed to achieve measurable climate outcomes in terms of direct or facilitated greenhouse gas emission reductions;
- Have a minimum total financing need of $5M;
- Have an already proven concept, beyond feasibility stage, with distinct elements of scalability (especially if below $10m);
- Have a business model that will generate commercially viable returns in the long-term (although some element of concessional financing may be required initially);
- Demonstrate positive social impacts and contribute to furthering gender equality and social inclusion